S.848 - Reigniting Opportunity for Innovators Act115th Congress (2017-2018)
|Sponsor:||Sen. Hassan, Margaret Wood [D-NH] (Introduced 04/05/2017)|
|Committees:||Senate - Health, Education, Labor, and Pensions|
|Latest Action:||Senate - 04/05/2017 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (All Actions)|
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Summary: S.848 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (04/05/2017)
Reigniting Opportunity for Innovators Act
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to make qualified founders and full-time employees of small business start-ups eligible for deferring for up to three years their loans under the federal Direct Loan program.
If the start-up is located in an economically distressed area, qualified founders and employees are also eligible for loan cancellation of up to $20,000 under that program.