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End of Federal PLUS Student Loans and Revenue Limits for Colleges

This act aims to stop issuing new Federal Direct PLUS Loans starting July 1, 2023. It also limits how much money colleges can earn from these loans, gradually reducing the amount until 2027. This means students and parents will have fewer options for financing education through these specific loans, and colleges will need to find other revenue sources.
Key points
New Federal Direct PLUS Loans will no longer be available starting July 1, 2023.
Borrowers who received their first PLUS loan before July 1, 2023, may continue to receive them until course completion or June 30, 2027, whichever comes first.
Colleges will face gradual reductions in revenue from PLUS loans, potentially impacting their finances and educational offerings.
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Additional Information
Print number: 117_HR_7895
Sponsor: Rep. Rice, Tom [R-SC-7]
Process start date: 2022-05-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Combating Excessive Student Debt Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7895.

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 2022-05-27.

What are the main provisions?

Key points include:

  • New Federal Direct PLUS Loans will no longer be available starting July 1, 2023.
  • Borrowers who received their first PLUS loan before July 1, 2023, may continue to receive them until course completion or June 30, 2027, whichever comes first.
  • Colleges will face gradual reductions in revenue from PLUS loans, potentially impacting their finances and educational offerings.
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. Rice, Tom [R-SC-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Education