H.R.3095: Know Your Repayment Options Act

Overview

The Know Your Repayment Options Act (H.R. 3095) would amend the Higher Education Act to require the Department of Education to give federal student loan borrowers who have graduated or departed from school detailed information, including monthly amount and lifetime payment amount, for each repayment option available to the borrower. The Department of Education would establish a process for annual verification of the borrower’s annual income and the outstanding balance of principal and interest due on federal loans.

Related Bills

H.R.655

The Student Loan Repayment Assistance Act of 2019 would allow a business-related tax credit for an employer’s payments for employees under a student loan repayment program. The credit is equal to 10% of the amount that an employer pays on behalf of any employee under a program and is refundable for certain small businesses and […]

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H.R.3027

H.R. 3027 would impose a six-year statute of limitations on lenders to enforce collection of defaulted student loan. The legislation would also prohibit “administrative offset,” or the withholding of the payment of other federal benefits to collect on a defaulted loan. Lending institutions would also be prohibited from filing actions for wage garnishment to collect […]

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Contact Your Members of Congress

Our Stance

Watching

Priority

Medium

Bill Number

H.R.3095

Date Introduced

June 04, 2019

Committee

House Education and Labor Committee

Bill Status

Introduced or Prefiled

Sponsor

Rep. Eric Swalwell

Co Sponsors