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Increased Tax Deductions and Extended Grace Periods for Student Loans.

This act aims to ease the burden of student loan repayment. It increases the amount of student loan interest that can be deducted from taxes and excludes certain income-driven loan discharges from taxable income. Additionally, it extends the grace period for some federal student loans, giving borrowers more time before repayment begins.
Key points
You can deduct more student loan interest from your income, potentially lowering your taxes.
If your student loan is discharged under income-driven repayment plans, that amount will not be counted as taxable income.
The grace period before you start repaying certain federal student loans (Stafford and PLUS) will be extended from 6 to 12 months, with no interest accruing during this time.
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Additional Information
Print number: 117_HR_891
Sponsor: Rep. Rice, Kathleen M. [D-NY-4]
Process start date: 2021-02-05
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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

Students and Families Empowerment Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_891.

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 2021-02-05.

What are the main provisions?

Key points include:

  • You can deduct more student loan interest from your income, potentially lowering your taxes.
  • If your student loan is discharged under income-driven repayment plans, that amount will not be counted as taxable income.
  • The grace period before you start repaying certain federal student loans (Stafford and PLUS) will be extended from 6 to 12 months, with no interest accruing during this time.
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, Kathleen M. [D-NY-4].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

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

CATEGORIES

Education Taxes Benefits