A bill to provide for institutional risk-sharing in the Federal student loan programs.
USA115th CongressS-2028| Senate
| Updated: 10/26/2017
Jack Reed
Democratic Senator
Rhode Island
Cosponsors (3)
Health, Education, Labor, and Pensions Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Protect Student Borrowers Act of 2017 This bill amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to assume some of the risk of default for student loans under the program. For any fiscal year in which at least 33% of the IHE's student body is participating in the Direct Loan program, the IHE must remit a risk-sharing payment that is based on the amount of its defaulted Direct Loans.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855)
Education
Congressional oversightEducation programs fundingGovernment Accountability Office (GAO)Government studies and investigationsHigher educationStudent aid and college costs
A bill to provide for institutional risk-sharing in the Federal student loan programs.
USA115th CongressS-2028| Senate
| Updated: 10/26/2017
Protect Student Borrowers Act of 2017 This bill amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to assume some of the risk of default for student loans under the program. For any fiscal year in which at least 33% of the IHE's student body is participating in the Direct Loan program, the IHE must remit a risk-sharing payment that is based on the amount of its defaulted Direct Loans.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855)
Jack Reed
Democratic Senator
Rhode Island
Cosponsors (3)
Health, Education, Labor, and Pensions Committee
Education
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Congressional oversightEducation programs fundingGovernment Accountability Office (GAO)Government studies and investigationsHigher educationStudent aid and college costs