To amend the Higher Education Act of 1965 and the Truth in Lending Act to clarify the application of prepayment amounts on student loans.

Summary

Official

Student Loan Fair Prepayment Act This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to require a student loan borrower's prepayment amount on a Federal Family Education Loan, Federal Direct Loan, or Federal Perkins Loan to be applied first toward outstanding fees and then, unless a borrower requests otherwise, in the following order: (1) toward...

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Bill Progress

Committee is reviewing, marking up, or holding hearings on the bill

Introduced(10/21/15)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. DAVIS

(D) CA – 49

Cosponsors (6)

FARR

(D) CA

HASTINGS

(D) FL

Wilson

House (D) Florida

Garamendi

House (D) California

Takano

House (D) California

Peters

House (D) California

Topics

Education

Government Spending & Operations

Business & Finance

Latest Action

Referred to the Subcommittee on Higher Education and Workforce Training.

Mar 23, 2016