HR 8872 · 117th Congress 2021–2023, ended

LOAN Act

Introduced Sep 15, 2022 Originated House Sponsor Frederica S. Wilson D-FL

Fact sheet Spreadsheet

Latest action · Sep 15, 2022 Referred to the Committee on Education and Labor, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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. IntroducedSep 15, 2022
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Lowering Obstacles to Achievement Now Act or the LOAN Act

This bill makes various changes to federal student aid programs, including by providing funding to increase the maximum Pell Grant award for each eligible student and reducing the number of monthly loan payments required for loan forgiveness under the Public Service Loan Forgiveness (PSLF) program.

Cosponsors 31

Members who signed on, in the order they did. All signed on Sep 15, 2022.

SeatCosponsorSigned on
D-NYAdriano EspaillatOriginalSep 15, 2022
D-FLAl Lawson, Jr.OriginalSep 15, 2022
D-NCAlma S. AdamsOriginalSep 15, 2022
D-INAndré CarsonOriginalSep 15, 2022
D-CABarbara LeeOriginalSep 15, 2022
D-MSBennie G. ThompsonOriginalSep 15, 2022
D-MIBrenda L. LawrenceOriginalSep 15, 2022
D-ILDanny K. DavisOriginalSep 15, 2022
D-FLDarren SotoOriginalSep 15, 2022
D-PADwight EvansOriginalSep 15, 2022
D-DCEleanor Holmes NortonOriginalSep 15, 2022
D-MPGregorio Kilili Camacho SablanOriginalSep 15, 2022
D-CAJ. Luis CorreaOriginalSep 15, 2022
D-CTJahana HayesOriginalSep 15, 2022
D-NYJamaal BowmanOriginalSep 15, 2022
D-TXJoaquin CastroOriginalSep 15, 2022
D-MDJohn P. SarbanesOriginalSep 15, 2022
D-NCKathy E. ManningOriginalSep 15, 2022
D-GALucy McBathOriginalSep 15, 2022
D-CAMark DeSaulnierOriginalSep 15, 2022
D-CAMark TakanoOriginalSep 15, 2022
D-CANanette Diaz BarragánOriginalSep 15, 2022
D-AZRaúl M. GrijalvaOriginalSep 15, 2022
D-NYRitchie TorresOriginalSep 15, 2022
D-VARobert C. "Bobby" ScottOriginalSep 15, 2022
D-CASalud O. CarbajalOriginalSep 15, 2022
D-FLSheila Cherfilus-McCormickOriginalSep 15, 2022
D-OHShontel M. BrownOriginalSep 15, 2022
D-ORSuzanne BonamiciOriginalSep 15, 2022
D-LATroy A. CarterOriginalSep 15, 2022
D-NYYvette D. ClarkeOriginalSep 15, 2022

Committees 2

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

ChamberCommitteeWhat it did
HouseEducation and Workforce Committee
Referred Sep 15, 2022
HouseBudget Committee
Referred Sep 15, 2022

Actions 2

Everything that happened, newest first.

  1. Sep 15, 2022Introduced in House
  2. Sep 15, 2022Referred to the Committee on Education and Labor, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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 I, Section 8

The sponsor’s statement, as printed in the Congressional Record, vol. 168, no. 149, September 15, 2022, page H7883.

Related bills 5

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

BillTitleRelationshipLatest action
HR 1731LOAN ActReintroduced BillMar 22, 2023
S 2081Pell Grant Preservation and Expansion Act of 2021Related billJun 16, 2021
HR 3946Pell Grant Preservation and Expansion Act of 2021Related billJun 16, 2021
HR 4002Expanding Access to Graduate Education Act of 2021Related billJun 17, 2021
HR 6898Teacher Debt Relief ActRelated billMar 2, 2022

Titles 3

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

Official Title as Introduced
To amend the Higher Education Act of 1965 to double the Pell Grant award amount, improve the Public Service Loan Forgiveness program, and reduce interest rates, and for other purposes.
Short Title(s) as Introduced
LOAN Act
Lowering Obstacles to Achievement Now Act

Subjects

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

Text 1

Each version as it was printed, newest first.

  1. Sep 15, 2022Introduced in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

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.