H.R.655: Student Loan Repayment Assistance Act of 2019

Overview

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 tax-exempt organizations. The payments for an employee may not exceed $500 per month.

Related Bills

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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H.R.885

The Private Student Loan Bankruptcy Fairness Act (H.R.885) would allow private student loans to be dischargeable in bankruptcy proceedings. Since 2005 private student loans are unable to be discharged unless the debtor can prove “undue hardship”. Federal student loans, however, would not be subject to this change. This is a simmilar bill to H.R. 770.

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Contact Your Members of Congress

Our Stance

Support

Priority

Medium

Bill Number

H.R.655

Date Introduced

January 17, 2019

Committee

House Ways and Means Committee

Bill Status

Introduced or Prefiled

Sponsor

Rep. Julia Brownley

Co Sponsors