Pipeline · Bill → Law
Step 1
Introduced
Jun 14, 2023
Step 2
Referred
Jun 14, 2023
Education and Workforce
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill establishes a refinancing program for federal student loans. Specifically, the Department of Education (ED) must, within 30 days, establish a program that allows borrowers to refinance their federal student loans down to lower interest rates. The refinanced interest rates are (1) calculated based on the type of student loan (e.g., Stafford), and (2) fixed for the period of the loan. In addition, the bill requires ED to coordinate with the Consumer Financial Protection Bureau to alert borrowers of their program eligibility.
1 provision
Timeline · 2 actions
Jun 14, 2023
Introduced in House
Jun 14, 2023
Referred to the House Committee on Education and the Workforce.