H.R. 649 · 114th Congress
Student Loan Refinancing Act
- Stage
- In committee
- Sponsor
- Mark Pocan
- Introduced
- 2015-02-02
- Latest action
- 2015-04-29 · Referred to the Subcommittee on Higher Education and Workforce Training.
Summary
Student Loan Refinancing Act
Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow a borrower of a loan under the William D. Ford Federal Direct Loan program to modify the interest rate on such a loan so that its interest rate is equal to the interest rate it would bear if first disbursed at the time of modification.
Fixes that interest rate for the life of the loan, unless the borrower elects to modify it again.