Student Loan Refinancing Act
Latest action · Apr 29, 2015 Referred to the Subcommittee on Higher Education and Workforce Training.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 2, 2015
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 52
Members who signed on, in the order they did. Signatures ran from Feb 2, 2015 to Jul 5, 2016; 10 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Alan S. Lowenthal | Original | Feb 2, 2015 |
| D-FL | Frederica S. Wilson | Original | Feb 2, 2015 |
| D-IL | Janice D. Schakowsky | Original | Feb 2, 2015 |
| D-CA | Judy Chu | Original | Feb 2, 2015 |
| D-CA | Julia Brownley | Original | Feb 2, 2015 |
| D-MN | Keith Ellison | Original | Feb 2, 2015 |
| D-OR | Kurt Schrader | Original | Feb 2, 2015 |
| D-PA | Matt Cartwright | Original | Feb 2, 2015 |
| D-WI | Ron Kind | Original | Feb 2, 2015 |
| D-TN | Steve Cohen | Original | Feb 2, 2015 |
| D-MA | James P. McGovern | Feb 13, 2015 | |
| D-CA | Mark DeSaulnier | Mar 19, 2015 | |
| D-MI | John Conyers, Jr. | Apr 14, 2015 | |
| D-NY | Gregory W. Meeks | Apr 15, 2015 | |
| D-NY | Brian Higgins | Apr 21, 2015 | |
| D-CA | Doris O. Matsui | Apr 21, 2015 | |
| D-CA | Eric Swalwell | Apr 21, 2015 | |
| D-CA | Juan Vargas | Apr 21, 2015 | |
| D-NY | Charles B. Rangel | Apr 28, 2015 | |
| D-MS | Bennie G. Thompson | Apr 30, 2015 | |
| D-WA | Derek Kilmer | May 13, 2015 | |
| D-VA | Donald S. Beyer, Jr. | May 13, 2015 | |
| D-TX | Lloyd Doggett | May 13, 2015 | |
| D-OH | Marcia L. Fudge | May 13, 2015 | |
| D-PA | Michael F. Doyle | May 13, 2015 | |
| D-AZ | Raúl M. Grijalva | May 13, 2015 | |
| D-CA | Scott H. Peters | May 13, 2015 | |
| D-CA | Zoe Lofgren | May 13, 2015 | |
| D-IA | David Loebsack | May 14, 2015 | |
| D-MN | Richard M. Nolan | May 18, 2015 | |
| D-OH | Joyce Beatty | May 20, 2015 | |
| D-VT | Peter Welch | May 20, 2015 | |
| D-CA | Ted Lieu | Jun 2, 2015 | |
| D-NY | Louise McIntosh Slaughter | Jun 18, 2015 | |
| D-CO | Ed Perlmutter | Jul 7, 2015 | |
| D-WI | Gwen Moore | Jul 7, 2015 | |
| D-CA | Grace F. Napolitano | Jul 13, 2015 | |
| R-WI | Glenn Grothman | Sep 30, 2015 | |
| D-MN | Betty McCollum | Dec 9, 2015 | |
| R-NY | John Katko | Feb 3, 2016 | |
| D-NJ | Bill Pascrell, Jr. | Mar 15, 2016 | |
| D-NH | Ann M. Kuster | Apr 12, 2016 | |
| D-PA | Brendan F. Boyle | Apr 12, 2016 | |
| D-FL | Alcee L. Hastings | Apr 18, 2016 | |
| D-NY | Yvette D. Clarke | Apr 18, 2016 | |
| D-PA | Robert A. Brady | Apr 26, 2016 | |
| D-NJ | Donald M. Payne, Jr. | Apr 29, 2016 | |
| D-IL | Bobby L. Rush | May 10, 2016 | |
| D-NY | Grace Meng | May 10, 2016 | |
| D-FL | Kathy Castor | May 11, 2016 | |
| R-CO | Mike Coffman | May 12, 2016 | |
| D-CA | Janice Hahn | Jul 5, 2016 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Education and Workforce Committee | Referred Feb 2, 2015 |
| Higher Education and Workforce Development Subcommittee | Referred Apr 29, 2015 |
Actions 3
Everything that happened, newest first.
- Apr 29, 2015Referred to the Subcommittee on Higher Education and Workforce Training.
- Feb 2, 2015Introduced in House
- Feb 2, 2015Referred to the House Committee on Education and the Workforce.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Lists H812H.R. 649 | — | Feb 4, 2015 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 161, no. 19, February 4, 2015, page H812.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1614 | Student Loan Refinancing Act | Reintroduced Bill | Mar 17, 2017 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.
- Short Titles as Introduced
- Student Loan Refinancing Act
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- Feb 2, 2015Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
