HR 7449 · 116th Congress 2019–2021, ended

Bank on Students Coronavirus Emergency Loan Refinancing Act of 2020

Introduced Jul 1, 2020 Originated House Sponsor Joe Courtney D-CT

Fact sheet Spreadsheet

Latest action · Jul 1, 2020 Referred to the House Committee on Education and Labor.

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.

  1. IntroducedJul 1, 2020
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Bank on Students Coronavirus Emergency Loan Refinancing Act of 2020

This bill establishes refinancing programs for federal and private student loans. Specifically, it allows certain borrowers to refinance their federal student loans down to lower interest rates, and creates the Federal Direct Refinanced Private Loan to allow certain borrowers to refinance their private student loans.

Cosponsors 37

Members who signed on, in the order they did. Signatures ran from Jul 1, 2020 to Nov 12, 2020; 29 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
D-WAAdam SmithOriginalJul 1, 2020
D-NHAnn M. KusterOriginalJul 1, 2020
D-NMBen Ray LujánOriginalJul 1, 2020
D-MEChellie PingreeOriginalJul 1, 2020
D-RIDavid N. CicillineOriginalJul 1, 2020
D-MIDebbie DingellOriginalJul 1, 2020
D-WADerek KilmerOriginalJul 1, 2020
D-COEd PerlmutterOriginalJul 1, 2020
D-DCEleanor Holmes NortonOriginalJul 1, 2020
D-MIElissa SlotkinOriginalJul 1, 2020
D-CAEric SwalwellOriginalJul 1, 2020
D-FLFrederica S. WilsonOriginalJul 1, 2020
D-CAGilbert Ray Cisneros, Jr.OriginalJul 1, 2020
D-CTJahana HayesOriginalJul 1, 2020
D-CTJames A. HimesOriginalJul 1, 2020
D-MAJames P. McGovernOriginalJul 1, 2020
D-CTJohn B. LarsonOriginalJul 1, 2020
D-NYJose E. SerranoOriginalJul 1, 2020
D-NYKathleen M. RiceOriginalJul 1, 2020
D-FLKathy CastorOriginalJul 1, 2020
D-CALinda T. SánchezOriginalJul 1, 2020
D-MALori TrahanOriginalJul 1, 2020
D-CAMark TakanoOriginalJul 1, 2020
D-VTPeter WelchOriginalJul 1, 2020
D-NYSean Patrick MaloneyOriginalJul 1, 2020
D-TXSheila Jackson LeeOriginalJul 1, 2020
D-WASuzan K. DelBeneOriginalJul 1, 2020
D-NYThomas R. SuozziOriginalJul 1, 2020
D-OHTim RyanOriginalJul 1, 2020
D-CATony CárdenasJul 22, 2020
D-TXColin Z. AllredAug 11, 2020
D-ILBill FosterSep 21, 2020
D-MSBennie G. ThompsonOct 23, 2020
D-PADwight EvansOct 23, 2020
D-CAMark DeSaulnierOct 23, 2020
D-MIDaniel T. KildeeNov 12, 2020
D-NJDonald M. Payne, Jr.Nov 12, 2020

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseEducation and Workforce Committee
Referred Jul 1, 2020

Actions 2

Everything that happened, newest first.

  1. Jul 1, 2020Introduced in House
  2. Jul 1, 2020Referred to the House Committee on Education and Labor.

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

Congress has the power to enact this legislation pursuant to the following: Article 1, Section 8.

The sponsor’s statement, as printed in the Congressional Record, vol. 166, no. 121, July 1, 2020, page H3058.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 4141Bank on Students Coronavirus Emergency Loan Refinancing Act of 2020Identical billJul 1, 2020

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To refinance Federal and private student loans, and for other purposes.
Short Title(s) as Introduced
Bank on Students Coronavirus Emergency Loan Refinancing Act of 2020

Subjects

Assigned by the Library of Congress. Policy area: Education.

Text 1

Each version as it was printed, newest first.

  1. Jul 1, 2020Introduced in House

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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.