Summary: H.R.4834 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.4834. Bill summaries are authored by CRS.

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Introduced in House (03/11/2010)

Student Debt Reduction Act - Amends the Higher Education Act of 1965 to cap annual, income-based, student loan repayments under the Federal Family Education Loan and Direct Loan programs at 10% (currently, 15%) of the amount by which a borrower's and the borrower's spouse's adjusted gross income exceeds 150% of the poverty line.

Requires the Secretary of Education to cancel or repay such loans after 20 (currently, 25) years.