0
0
0
Student Loan Refinancing Act
12/15/2023, 3:59 PM
Summary of Bill HR 4139
Bill 118 hr 4139, also known as the Student Loan Refinancing Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide relief to individuals burdened by student loan debt by allowing them to refinance their loans at lower interest rates.
If passed, the Student Loan Refinancing Act would establish a new program within the Department of Education that would allow borrowers to refinance their federal student loans at lower interest rates. This program would be available to both current borrowers and those who have already graduated and are struggling to repay their loans.
The bill also includes provisions to streamline the refinancing process and make it easier for borrowers to take advantage of the program. Additionally, it would cap interest rates on refinanced loans to ensure that borrowers are able to secure more affordable repayment terms. Overall, the Student Loan Refinancing Act aims to provide much-needed relief to individuals struggling with student loan debt by offering them the opportunity to refinance their loans at lower interest rates. This could potentially save borrowers thousands of dollars over the life of their loans and make repayment more manageable.
If passed, the Student Loan Refinancing Act would establish a new program within the Department of Education that would allow borrowers to refinance their federal student loans at lower interest rates. This program would be available to both current borrowers and those who have already graduated and are struggling to repay their loans.
The bill also includes provisions to streamline the refinancing process and make it easier for borrowers to take advantage of the program. Additionally, it would cap interest rates on refinanced loans to ensure that borrowers are able to secure more affordable repayment terms. Overall, the Student Loan Refinancing Act aims to provide much-needed relief to individuals struggling with student loan debt by offering them the opportunity to refinance their loans at lower interest rates. This could potentially save borrowers thousands of dollars over the life of their loans and make repayment more manageable.
Congressional Summary of HR 4139
Student Loan Refinancing Act
This bill establishes a refinancing program for federal student loans.
Specifically, the Department of Education (ED) must, within 30 days, establish a program that allows borrowers to refinance their federal student loans down to lower interest rates. The 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 requires ED to coordinate with the Consumer Financial Protection Bureau to alert borrowers of their program eligibility.
Read the Full Bill
Current Status of Bill HR 4139
Bill HR 4139 is currently in the status of Bill Introduced since June 14, 2023. Bill HR 4139 was introduced during Congress 118 and was introduced to the House on June 14, 2023. Bill HR 4139's most recent activity was Referred to the House Committee on Education and the Workforce. as of June 14, 2023
Bipartisan Support of Bill HR 4139
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
4Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4139
Primary Policy Focus
EducationAlternate Title(s) of Bill HR 4139
Student Loan Refinancing Act
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.
Comments
Sponsors and Cosponsors of HR 4139
Latest Bills
TRAPS Act
Bill HR 4936September 18, 2026
Apples to Apples Comparison Act of 2025
Bill HR 4093September 18, 2026
American Lending Fairness Act of 2026
Bill HR 7866September 18, 2026
Civil Investigative Demand Reform Act of 2025
Bill HR 1653September 18, 2026
American Reserve Modernization Act of 2026
Bill HR 8957September 18, 2026
Preventive Health Savings Act
Bill HR 4464September 18, 2026
PEARL Act
Bill HR 9327September 18, 2026
Medically Tailored Home-Delivered Meals Program Pilot Act
Bill HR 5439September 18, 2026
To designate the facility of the United States Postal Service located at 117 West Lovett Street in Charlotte, Michigan, as the "Francis C. Flaherty Post Office Building".
Bill HR 9570September 18, 2026
To designate the facility of the United States Postal Service located at 1019 Avenue H in Fort Madison, Iowa, as the "Martin L. Graber Post Office".
Bill HR 4707September 18, 2026



