H.R.1899 - Student Loan Refinancing and Recalculation Act116th Congress (2019-2020) |
|Sponsor:||Rep. Garamendi, John [D-CA-3] (Introduced 03/27/2019)|
|Committees:||House - Education and Labor|
|Latest Action:||House - 03/27/2019 Referred to the House Committee on Education and Labor. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.1899 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (03/27/2019)
Student Loan Refinancing and Recalculation Act
This bill provides for the refinancing or deferral of certain federal student loans.
Specifically, the bill directs the Department of Education to establish a program to refinance the outstanding principal, interest, and late charges on federal student loans in order to give borrowers fixed interest rates equal to the 10-year Treasury note rate plus one percentage point. Further, the bill eliminates origination fees on the loans.
In addition, the bill allows borrowers in medical or dental internship or residency programs to defer student loan payments until the completion of their programs.