Summary: S.848 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.848. Bill summaries are authored by CRS.

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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.