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More Flexibility for Federal Student Loan Repayment

This bill provides greater flexibility for individuals managing their federal student loan repayments. It allows borrowers currently on income-based repayment plans to switch to any other eligible repayment plan at any time. This change empowers citizens to better align their loan repayments with their current financial circumstances.
Key points
Option to change student loan repayment plans: Federal student loan borrowers on income-based repayment can now switch to any other eligible repayment plan at any time.
Increased financial control: This change offers borrowers more freedom to adjust their repayment strategy to suit evolving life and financial situations.
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Expired
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Additional Information
Print number: 117_S_2976
Sponsor: Sen. Murkowski, Lisa [R-AK]
Process start date: 2021-10-07
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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

Student Loan Repayment Freedom Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2976.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-10-07.

What are the main provisions?

Key points include:

  • Option to change student loan repayment plans: Federal student loan borrowers on income-based repayment can now switch to any other eligible repayment plan at any time.
  • Increased financial control: This change offers borrowers more freedom to adjust their repayment strategy to suit evolving life and financial situations.
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 Sen. Murkowski, Lisa [R-AK].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Education