To provide for the refinancing and recalculation of certain Federal student loans, and for other purposes.
Student Loan Refinancing and Recalculation Act
This bill provides for the refinancing or deferral of certain federal student loans.
Specifically, the bill directs the Department of Education to establish a program to refinance the outstanding principal, interest, and late charges on federal student loans in order to give borrowers fixed interest rates equal to the 10-year Treasury note rate plus one percentage point. Further, the bill eliminates origination fees on the loans.
In addition, the bill allows borrowers in medical, veterinary, or dental internship or residency programs to defer student loan payments until the completion of their programs.
The bill also terminates interest capitalization for federal student loans.
Referred to the House Committee on Education and the Workforce.
Referred to the House Committee on Education and the Workforce.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Introduced in House
Introduced in House
Referred to the House Committee on Education and the Workforce.
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