Pipeline · Bill → Law
Step 1
Introduced
Nov 29, 2023
Step 2
Referred
Nov 29, 2023
HELP
Step 3
Committee
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill requires institutions of higher education (IHEs) to provide cost-match awards to enrolled students based on the size of the IHE's endowment fund, makes IHEs responsible for a percentage of the student loan balance of students who are in default, and establishes related reporting requirements. Specifically, the bill requires an IHE that has an endowment fund that is greater than $1 billion to pay the covered percentage of the cost of attendance for each full-time student enrolled at the IHE. Additionally, the bill requires an IHE to remit to the Department of Education (ED) an annually increasing percentage of the loan balance of students who are in default. The bill also establi...
Timeline · 2 actions
Nov 29, 2023
Introduced in Senate
Nov 29, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.