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Student Loan Borrower Safety Net Act of 2023

USA118th CongressHR-644| House 
| Updated: 1/31/2023
Suzanne Bonamici

Suzanne Bonamici

Democratic Representative

Oregon

Cosponsors (19)
Dwight Evans (Democratic)Emanuel Cleaver (Democratic)Joe Courtney (Democratic)Frederica S. Wilson (Democratic)Juan Vargas (Democratic)Dina Titus (Democratic)Andrea Salinas (Democratic)Frank J. Mrvan (Democratic)Danny K. Davis (Democratic)André Carson (Democratic)Mark DeSaulnier (Democratic)Mark Takano (Democratic)Lucy McBath (Democratic)Kathy Castor (Democratic)Eleanor Holmes Norton (Democratic)Donald S. Beyer (Democratic)Mike Thompson (Democratic)Teresa Leger Fernandez (Democratic)Susan Wild (Democratic)

Education and Workforce Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Student Loan Borrower Safety Net Act of 2023 This bill requires the Department of Education (ED) to carry out a program to notify borrowers that normal payment obligations on their federal student loans will resume. Not later than 60 days before payment obligations are no longer suspended (as determined by ED), ED must provide at least six notices to borrowers indicating that their payment obligations will resume. These notices must also indicate the options for (1) enrolling in income-driven repayment plans, (2) participating in ED's Fresh Start program (this program offers special benefits for borrowers with defaulted federal student loans), and (3) rehabilitating or consolidating loans. ED must provide priority notification to certain borrowers, including those who missed a payment in the first three months of entering repayment on a loan. The bill allows borrowers to (1) submit an application or reapplication for an income-driven repayment plan and self-certify their income and family size, (2) change their repayment plan without a fee, and (3) apply for an economic hardship deferment. If a borrower misses a payment or payments on a loan during the 60 days after the payment suspension ends, then the loan must be held in administrative forbearance for 90 days.
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Timeline

Bill from Previous Congress

HR 117-5890
Student Loan Borrower Safety Net Act of 2021
Jan 31, 2023
Introduced in House
Jan 31, 2023
Referred to the House Committee on Education and the Workforce.
  • Bill from Previous Congress

    HR 117-5890
    Student Loan Borrower Safety Net Act of 2021


  • January 31, 2023
    Introduced in House


  • January 31, 2023
    Referred to the House Committee on Education and the Workforce.

Education

Economic performance and conditionsGovernment lending and loan guaranteesHigher educationStudent aid and college costs

Student Loan Borrower Safety Net Act of 2023

USA118th CongressHR-644| House 
| Updated: 1/31/2023
Student Loan Borrower Safety Net Act of 2023 This bill requires the Department of Education (ED) to carry out a program to notify borrowers that normal payment obligations on their federal student loans will resume. Not later than 60 days before payment obligations are no longer suspended (as determined by ED), ED must provide at least six notices to borrowers indicating that their payment obligations will resume. These notices must also indicate the options for (1) enrolling in income-driven repayment plans, (2) participating in ED's Fresh Start program (this program offers special benefits for borrowers with defaulted federal student loans), and (3) rehabilitating or consolidating loans. ED must provide priority notification to certain borrowers, including those who missed a payment in the first three months of entering repayment on a loan. The bill allows borrowers to (1) submit an application or reapplication for an income-driven repayment plan and self-certify their income and family size, (2) change their repayment plan without a fee, and (3) apply for an economic hardship deferment. If a borrower misses a payment or payments on a loan during the 60 days after the payment suspension ends, then the loan must be held in administrative forbearance for 90 days.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 117-5890
Student Loan Borrower Safety Net Act of 2021
Jan 31, 2023
Introduced in House
Jan 31, 2023
Referred to the House Committee on Education and the Workforce.
  • Bill from Previous Congress

    HR 117-5890
    Student Loan Borrower Safety Net Act of 2021


  • January 31, 2023
    Introduced in House


  • January 31, 2023
    Referred to the House Committee on Education and the Workforce.
Suzanne Bonamici

Suzanne Bonamici

Democratic Representative

Oregon

Cosponsors (19)
Dwight Evans (Democratic)Emanuel Cleaver (Democratic)Joe Courtney (Democratic)Frederica S. Wilson (Democratic)Juan Vargas (Democratic)Dina Titus (Democratic)Andrea Salinas (Democratic)Frank J. Mrvan (Democratic)Danny K. Davis (Democratic)André Carson (Democratic)Mark DeSaulnier (Democratic)Mark Takano (Democratic)Lucy McBath (Democratic)Kathy Castor (Democratic)Eleanor Holmes Norton (Democratic)Donald S. Beyer (Democratic)Mike Thompson (Democratic)Teresa Leger Fernandez (Democratic)Susan Wild (Democratic)

Education and Workforce Committee

Education

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Economic performance and conditionsGovernment lending and loan guaranteesHigher educationStudent aid and college costs