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Coronavirus Emergency Student Loan Refinancing Act
2/9/2022, 2:28 AM
Congressional Summary of HR 6397
Coronavirus Emergency Student Loan Refinancing Act
This bill establishes refinancing programs for federal and private student loans.
Specifically, the bill establishes a program that allows qualified borrowers to refinance their federal student loans down to lower interest rates. Such refinanced interest rates are (1) calculated based on the type of student loan (e.g., Stafford), and (2) fixed for the period of the loan.
In addition, the bill creates the Federal Direct Refinanced Private Loan as a new type of loan. Such loans allow qualified borrowers to refinance their private education loans.
Read the Full Bill
Current Status of Bill HR 6397
Bill HR 6397 is currently in the status of Bill Introduced since March 26, 2020. Bill HR 6397 was introduced during Congress 116 and was introduced to the House on March 26, 2020. Bill HR 6397's most recent activity was Referred to the House Committee on Education and Labor. as of March 26, 2020
Bipartisan Support of Bill HR 6397
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
60Democrat Cosponsors
60Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 6397
Primary Policy Focus
EducationPotential Impact Areas
- Education programs funding
- Government information and archives
- Government lending and loan guarantees
- Higher education
- Interest, dividends, interest rates
- Student aid and college costs
Alternate Title(s) of Bill HR 6397
Coronavirus Emergency Student Loan Refinancing Act
To amend the Higher Education Act of 1965 to provide for the refinancing of certain Federal student loans, and for other purposes.
Coronavirus Emergency Student Loan Refinancing Act
Comments
Sponsors and Cosponsors of HR 6397
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