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A bill to provide for the discharge of parent borrower liability if a student on whose behalf a parent has received certain student loans becomes disabled.
5/23/2024, 10:56 AM
Summary of Bill S 4333
Bill 118 s 4333, also known as the "Discharge of Parent Borrower Liability Act," aims to address the issue of parent borrowers who have taken out student loans on behalf of their children and are unable to repay them due to the child becoming disabled. The bill proposes that if a student who has received certain student loans becomes disabled, the parent borrower's liability for the loan will be discharged.
This bill is designed to provide relief to parents who have taken on the financial responsibility of their child's education, only to face financial hardship when their child becomes disabled and is unable to repay the loans. By discharging the parent borrower's liability in these circumstances, the bill seeks to alleviate the financial burden on families facing such difficult situations.
The bill does not specify which types of student loans would qualify for this discharge, but it is likely that it would apply to federal student loans that are taken out by parents on behalf of their children. It is important to note that this bill does not forgive the student loans themselves, but rather releases the parent borrower from the obligation to repay them if the student becomes disabled. Overall, Bill 118 s 4333 aims to provide a compassionate solution to the financial challenges faced by families when a student becomes disabled and is unable to repay their student loans. It offers a practical and much-needed support system for parents in these difficult circumstances.
This bill is designed to provide relief to parents who have taken on the financial responsibility of their child's education, only to face financial hardship when their child becomes disabled and is unable to repay the loans. By discharging the parent borrower's liability in these circumstances, the bill seeks to alleviate the financial burden on families facing such difficult situations.
The bill does not specify which types of student loans would qualify for this discharge, but it is likely that it would apply to federal student loans that are taken out by parents on behalf of their children. It is important to note that this bill does not forgive the student loans themselves, but rather releases the parent borrower from the obligation to repay them if the student becomes disabled. Overall, Bill 118 s 4333 aims to provide a compassionate solution to the financial challenges faced by families when a student becomes disabled and is unable to repay their student loans. It offers a practical and much-needed support system for parents in these difficult circumstances.
Current Status of Bill S 4333
Bill S 4333 is currently in the status of Bill Introduced since May 14, 2024. Bill S 4333 was introduced during Congress 118 and was introduced to the Senate on May 14, 2024. Bill S 4333's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of May 14, 2024
Bipartisan Support of Bill S 4333
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 S 4333
Primary Policy Focus
Alternate Title(s) of Bill S 4333
A bill to provide for the discharge of parent borrower liability if a student on whose behalf a parent has received certain student loans becomes disabled.
A bill to provide for the discharge of parent borrower liability if a student on whose behalf a parent has received certain student loans becomes disabled.
Comments
Sponsors and Cosponsors of S 4333
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