HIGHER ED Act

Helping Improve Grants for Higher Education & Repayment of Expensive Debt Act or the HIGHER ED Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to:

• modify the Federal Pell Grant program to increase the maximum award and restore year-round grants,
• make graduate and professional students eligible to receive subsidized Stafford Loans under the Federal Direct Loan program,
• direct the Department of Education to refinance outstanding federal student loans for Direct Loan and Federal Family Education Loan program borrowers,
• include a part-time job as a faculty member within the definition of "public service job" for purposes of the public service loan forgiveness program, and
• establish additional terms and conditions applicable to the income-based and income-contingent repayment plans.

Additionally, the bill amends the federal bankruptcy code to permit a borrower to discharge in bankruptcy a nonprofit, government, or private student loan, or an obligation to repay an educational benefit, scholarship, or stipend.