US SB3745 | 2019-2020 | 116th Congress
Status
Spectrum: Strong Partisan Bill (Democrat 10-1)
Status: Introduced on May 14 2020 - 25% progression, died in committee
Action: 2020-05-14 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 14 2020 - 25% progression, died in committee
Action: 2020-05-14 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requires the Department of Education (ED) to discharge, within 30 days, the federal student loan debt of three categories of borrowers. Specifically, ED must discharge the federal student loan debt of a borrower (1) who is covered by ED findings against an institution of higher education (IHE) for job placement rate misrepresentation; (2) for whom a state attorney general has asserted a right to borrower defense discharge; or (3) who was subject to a misrepresentation made by the IHE related to guaranteed employment or transferability of credits, and who has asserted such misrepresentation in a borrower defense application. ED must reimburse a borrower for amounts paid toward the federal student loan. The bill also requires ED to (1) notify borrowers of loan relief and eligibility for financial aid, and (2) report loan discharge to consumer reporting agencies. Finally, ED must initiate a proceeding to require the IHE whose act or omission resulted in loan discharge to repay ED for such amounts.
Title
Coronavirus E-BD Act of 2020 Coronavirus Emergency Borrower Defense Act of 2020
Sponsors
Sen. Richard Durbin [D-IL] | Sen. Sherrod Brown [D-OH] | Sen. Elizabeth Warren [D-MA] | Sen. Richard Blumenthal [D-CT] |
Sen. Chris Van Hollen [D-MD] | Sen. Jack Reed [D-RI] | Sen. Thomas Carper [D-DE] | Sen. Christopher Murphy [D-CT] |
Sen. Tammy Baldwin [D-WI] | Sen. Jeff Merkley [D-OR] | Sen. Bernard Sanders [I-VT] |
History
Date | Chamber | Action |
---|---|---|
2020-05-14 | Senate | Read twice and referred to the Committee on Health, Education, Labor, and Pensions. |
Same As/Similar To
HB8316 (Same As) 2020-09-18 - Referred to the House Committee on Education and Labor.
Subjects
Civil actions and liability
Consumer credit
Education
Employee hiring
Fraud offenses and financial crimes
Government information and archives
Government lending and loan guarantees
Higher education
State and local government operations
Student aid and college costs
Consumer credit
Education
Employee hiring
Fraud offenses and financial crimes
Government information and archives
Government lending and loan guarantees
Higher education
State and local government operations
Student aid and college costs
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/3745/all-info |
Text | https://www.congress.gov/116/bills/s3745/BILLS-116s3745is.pdf |