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Relief for Deceased Students' Families: Private Education Loan Forgiveness

This act aims to ease financial burdens for families where a student with a private education loan has passed away. It allows for the forgiveness of such loans, protecting co-signers from repayment obligations. The program is designed to assist those who suffered financial harm due to previous regulatory changes.
Key points
Forgiveness of private education loans for deceased students if a co-signer exists.
Treasury program to purchase and retire loans originated before 180 days after the Economic Growth Act's enactment.
Assistance for loan holders who experienced financial injury due to Truth in Lending Act amendments.
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Status:
Expired
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Additional Information
Print number: 117_HR_3092
Sponsor: Rep. Craig, Angie [D-MN-2]
Process start date: 2021-05-11
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Ryan Frascone Memorial Student Loan Relief Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3092.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-11.

What are the main provisions?

Key points include:

  • Forgiveness of private education loans for deceased students if a co-signer exists.
  • Treasury program to purchase and retire loans originated before 180 days after the Economic Growth Act's enactment.
  • Assistance for loan holders who experienced financial injury due to Truth in Lending Act amendments.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Craig, Angie [D-MN-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Education Benefits Economy