S. 5065 · 117th Congress
Protect Student Borrowers Act of 2022
- Stage
- In committee
- Sponsor
- Jack Reed
- Introduced
- 2022-09-29
- Latest action
- 2022-09-29 · Introduced in Senate
Summary
Protect Student Borrowers Act of 2022
This bill requires institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to accept specified risk-sharing requirements for defaulted student loans, which shall include requiring certain IHEs to make payments to address the risk of such defaults. The bill also establishes in the Treasury a separate account for the deposit of such risk-sharing payments.