To impose a financial penalty on certain institutions of higher education with high percentages of students who default or make insufficient payments on Federal student loans, and for other purposes.

1/24/2025, 9:21 AM
Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, 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.
Bill 119 HR 713, also known as the "Student Loan Default Prevention Act," aims to address the issue of high student loan default rates at certain institutions of higher education. The bill proposes imposing financial penalties on these institutions that have a high percentage of students who default or make insufficient payments on Federal student loans.

The main goal of the bill is to hold these institutions accountable for the success of their students in repaying their student loans. By imposing financial penalties, the bill seeks to incentivize these institutions to provide better support and resources to help students avoid defaulting on their loans.

In addition to the financial penalties, the bill also includes provisions for other purposes related to student loan default prevention. These may include requirements for institutions to report on their student loan default rates, provide financial literacy education to students, or implement other measures to help students successfully repay their loans. Overall, Bill 119 HR 713 aims to address the issue of high student loan default rates at certain institutions of higher education by holding them accountable and incentivizing them to improve outcomes for their students.
Congress
119

Number
HR - 713

Introduced on
2025-01-23

# Amendments
0

Sponsors
+5

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, 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.
Bill 119 HR 713, also known as the "Student Loan Default Prevention Act," aims to address the issue of high student loan default rates at certain institutions of higher education. The bill proposes imposing financial penalties on these institutions that have a high percentage of students who default or make insufficient payments on Federal student loans.

The main goal of the bill is to hold these institutions accountable for the success of their students in repaying their student loans. By imposing financial penalties, the bill seeks to incentivize these institutions to provide better support and resources to help students avoid defaulting on their loans.

In addition to the financial penalties, the bill also includes provisions for other purposes related to student loan default prevention. These may include requirements for institutions to report on their student loan default rates, provide financial literacy education to students, or implement other measures to help students successfully repay their loans. Overall, Bill 119 HR 713 aims to address the issue of high student loan default rates at certain institutions of higher education by holding them accountable and incentivizing them to improve outcomes for their students.
Alternative Names
Official Title as IntroducedTo impose a financial penalty on certain institutions of higher education with high percentages of students who default or make insufficient payments on Federal student loans, and for other purposes.

Comments

Recent Activity

Latest Action1/23/2025
Referred to the Committee on Education and Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of ...