Combating Excessive Student Debt Act of 2022

12/30/2022, 12:18 AM

Summary of Bill HR 7895

Bill 117 HR 7895, also known as the Combating Excessive Student Debt Act of 2022, aims to address the issue of rising student debt in the United States. The bill was introduced in the House of Representatives in response to the growing concern over the burden of student loans on individuals and the economy as a whole.

The key provisions of the bill include measures to increase transparency in student loan agreements, provide financial literacy education to students, and expand access to income-driven repayment plans. The bill also seeks to address predatory lending practices and improve oversight of student loan servicers.

One of the main goals of the Combating Excessive Student Debt Act is to help borrowers better understand their rights and responsibilities when taking out student loans. By increasing transparency in loan agreements and providing financial literacy education, the bill aims to empower students to make informed decisions about their education financing. Additionally, the bill seeks to make income-driven repayment plans more accessible to borrowers, allowing them to repay their loans based on their income level. This can help alleviate the burden of high monthly payments for borrowers who may be struggling to make ends meet. Overall, the Combating Excessive Student Debt Act of 2022 aims to address the growing issue of student debt in the United States by providing borrowers with more resources and support to manage their loans effectively. The bill is currently under consideration in the House of Representatives and has garnered bipartisan support for its efforts to tackle this pressing issue.

Congressional Summary of HR 7895

Combating Excessive Student Debt Act of 2022

This bill generally prohibits new Federal Direct PLUS Loans from being made to student loan borrowers on or after July 1, 2023. Additionally, the bill limits the percentage of institutional revenue that may be derived from these loans.

Read the Full Bill

Formatted TextPDFFormatted XML

Current Status of Bill HR 7895

Bill HR 7895 is currently in the status of Bill Introduced since May 27, 2022. Bill HR 7895 was introduced during Congress 117 and was introduced to the House on May 27, 2022.  Bill HR 7895's most recent activity was Referred to the House Committee on Education and Labor. as of May 27, 2022

Bipartisan Support of Bill HR 7895

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7895

Primary Policy Focus

Education

Alternate Title(s) of Bill HR 7895

Combating Excessive Student Debt Act of 2022Combating Excessive Student Debt Act of 2022To amend the Higher Education Act of 1965 to terminate the authority to make Federal direct PLUS loans, and for other purposes.
Start holding our government accountable!

Comments

Sponsors and Cosponsors of HR 7895

R
Tom Rice
South Carolina(Republican)

Latest Bills

Fighting Opioid Abuse in Transportation Act
Bill S 2848April 7, 2025
Small and Rural Community Clean Water Technical Assistance Act
Bill S 518April 7, 2025
Endangered Salmon Predation Prevention Act
Bill S 3119April 7, 2025
Veterans' Electronic Health Record Modernization Oversight Act of 2017
Bill HR 4245April 7, 2025
Biometric Identification Transnational Migration Alert Program Authorization Act of 2018
Bill HR 6439April 7, 2025
DHS Authorization Act
Bill HR 2825April 7, 2025
Medicaid IMD ADDITIONAL INFO Act
Bill HR 5800April 7, 2025
At-Risk Youth Medicaid Protection Act of 2018
Bill HR 1925April 7, 2025
Rural DOCS Act
Bill HR 5477April 7, 2025
Over-the-Counter Monograph Safety, Innovation, and Reform Act of 2018
Bill HR 5333April 7, 2025