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AID Act

12/15/2023, 3:57 PM

Summary of Bill HR 2981

Bill 118 hr 2981, also known as the AID Act, is a piece of legislation introduced in the US Congress. The purpose of this bill is to provide aid and assistance to countries in need, particularly those facing humanitarian crises or natural disasters. The AID Act aims to strengthen the United States' role in providing support to countries in need, and to promote stability and security in regions that are experiencing turmoil.

The AID Act outlines specific measures that will be taken to provide aid, including the allocation of funds for humanitarian assistance, disaster relief, and development projects. The bill also emphasizes the importance of working with international partners and organizations to coordinate efforts and maximize the impact of aid programs.

Additionally, the AID Act includes provisions for monitoring and evaluating the effectiveness of aid programs, to ensure that resources are being used efficiently and that the intended beneficiaries are receiving the support they need. The bill also emphasizes the importance of transparency and accountability in the distribution of aid, to prevent misuse or mismanagement of funds. Overall, the AID Act is aimed at strengthening the United States' commitment to providing aid and assistance to countries in need, and promoting stability and security in regions facing humanitarian crises. It emphasizes the importance of working with international partners and organizations, and of ensuring that aid programs are effective and transparent.

Congressional Summary of HR 2981

Alleviating Intergenerational Debt Act or the AID Act

This bill creates a new student loan allowance calculation for determining the Student Aid Index (SAI). The SAI is an eligibility index number that is used to determine the amount of federal student aid a student is eligible to receive.

In particular, the bill revises the SAI formula to create a new allowance against income for dependent students' parents who have their own outstanding federal student loan debt, subject to income limitations.

The Department of Education (ED) must annually publish a revised table of student loan allowances.

The bill requires ED to submit an annual report to Congress on the impacts of the bill, including (1) the number and percentage of students whose SAI include the subtraction of this allowance, separated out by eligibility for Federal Pell Grants; and (2) the average amount of the allowance.

Current Status of Bill HR 2981

Bill HR 2981 is currently in the status of Bill Introduced since April 27, 2023. Bill HR 2981 was introduced during Congress 118 and was introduced to the House on April 27, 2023.  Bill HR 2981's most recent activity was Referred to the House Committee on Education and the Workforce. as of April 27, 2023

Bipartisan Support of Bill HR 2981

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 2981

Primary Policy Focus

Education

Alternate Title(s) of Bill HR 2981

AID Act
AID Act
Alleviating Intergenerational Debt Act
To amend the Higher Education Act of 1965 to provide a student loan allowance calculation for purposes of determining the student aid index.

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