A bill to provide targeted relief for student borrowers, improve the affordability of higher education, provide reforms to the student loan system, and for other purposes.
Student Debt Relief and College Affordability Act
This bill makes changes to the Federal Pell Grant program and addresses repayment options, loan disclosures, and loan counseling for student loans.
For example, the bill (1) directs the Department of Education (ED) to provide federal student loan forgiveness and cancellation for recipients of Pell Grants, (2) increases the maximum Pell Grant award, (3) terminates interest capitalization and origination fees for Federal Direct Loans, and (4) requires ED to maintain online counseling tools that provide borrowers with entrance and exit student loan counseling.
Referred to the Committee on Education and Labor, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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