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Student Loan Relief for Parents: Boosting Financial Aid Eligibility

This new law aims to help parents of students receive more financial aid for their children's education. It introduces a special student loan allowance that will be considered when calculating eligibility for financial support. This means families with student loan debt may qualify for more assistance.
Key points
Parents with student loans can receive an allowance of up to $4,000 or 15% of their outstanding debt, which will reduce their income for financial aid calculations.
This allowance is available to single parents earning up to $200,000 annually or married parents earning up to $400,000 combined.
The allowance amounts will be adjusted annually for inflation to maintain their value over time.
The government will regularly report on how many students and families benefited from this allowance and its average amount.
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Additional Information
Print number: 118_HR_2981
Sponsor: Rep. Stevens, Haley M. [D-MI-11]
Process start date: 2023-04-27
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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

AID Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2981.

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 2023-04-27.

What are the main provisions?

Key points include:

  • Parents with student loans can receive an allowance of up to $4,000 or 15% of their outstanding debt, which will reduce their income for financial aid calculations.
  • This allowance is available to single parents earning up to $200,000 annually or married parents earning up to $400,000 combined.
  • The allowance amounts will be adjusted annually for inflation to maintain their value over time.
  • The government will regularly report on how many students and families benefited from this allowance and its average amount.
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. Stevens, Haley M. [D-MI-11].

What is the latest detailed status?

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

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

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Education Family