[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 2976 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                S. 2976

 To amend the Higher Education Act of 1965 to permit a Federal student 
loan borrower to elect to terminate repayment pursuant to income-based 
repayment and repay such loan under any other repayment plan for which 
                  the borrower is otherwise eligible.


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                   IN THE SENATE OF THE UNITED STATES

                            October 7, 2021

  Ms. Murkowski (for herself, Mr. Reed, and Mr. Braun) introduced the 
 following bill; which was read twice and referred to the Committee on 
                 Health, Education, Labor, and Pensions

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                                 A BILL


 
 To amend the Higher Education Act of 1965 to permit a Federal student 
loan borrower to elect to terminate repayment pursuant to income-based 
repayment and repay such loan under any other repayment plan for which 
                  the borrower is otherwise eligible.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Loan Repayment Freedom 
Act''.

SEC. 2. SWITCHING FROM INCOME-BASED REPAYMENT PLAN.

    Section 493C(b)(8) of the Higher Education Act of 1965 (20 U.S.C. 
1098e(b)(8)) is amended to read as follows:
            ``(8) a borrower who is repaying a loan made under part B 
        or D pursuant to income-based repayment may elect, at any time, 
        to terminate repayment pursuant to income-based repayment and 
        repay such loan under any other repayment plan for which the 
        borrower is otherwise eligible under this title; and''.
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