So it costs allows federal education loan individuals so you’re able to re-finance its financing whenever rates is smaller

So it costs allows federal education loan individuals so you’re able to re-finance its financing whenever rates is smaller H.R.2034 – Income-Motivated Student loan Forgiveness Act Sponsor: Rep. Lawson [D-FL] Cosponsors: 0 Introduced: NASFAA Realization & Analysis: This bill would direct the Secretary of Education to forgive the balance of some federal student loans for eligible borrowers. Borrowers who filed a tax return for the most recent tax year, had an eligible loan in repayment, is employed, or had recent employment prior to the pandemic, and makes less than $100,000 if single, or $200,000 if married, would be eligible to receive forgiveness of their loan balance. The bill also stipulates that any forgiveness received would not be taxable. H.Roentgen.1633 – Public-service Loan Forgiveness Inclusion Operate of 2021 Sponsor: Rep. Foster [D-IL] Cosponsors: 12 Introduced: NASFAA Summation & Analysis: This bill would allow borrowers who would be eligible for PSLF but who were enrolled in a non eligible repayment plan, to have the first 60 monthly payments made under a graduated repayment or extended repayment plan to become qualifying payments under the PSLF. The bill does stipulate that borrowers must transfer to an eligible repayment plan, such as an income-based or standard repayment plan, for the remaining 60 monthly payments made under the PSLF program. S.603 – Coronavirus Emergency Student loan Refinancing Operate Sponsor: Sen. […]