What is the official ID of this bill?
The official print number for this legislation is HR 9192.
Automatic Enrollment of Delinquent Student Borrowers into Income-Driven Repayment Plans
This Act establishes automatic procedures for enrolling federal student loan borrowers who are delinquent on payments into Income-Driven Repayment (IDR) plans. The goal is to prevent further delinquency and lower monthly payments for struggling borrowers who fail to actively select a new plan. To benefit from the lowest payments, borrowers must consent to the automatic disclosure of their income data from the IRS.
Key points
Automatic Safety Net for Delinquency: If you are 75 days delinquent on a student loan and your current payments are higher than an IDR plan, you will be automatically enrolled in the IDR plan offering the lowest monthly payment.
Simplified Income Verification: The Department of Education can automatically access your tax return information from the IRS to calculate IDR payments, provided you give affirmative, ongoing approval.
Support After Loan Rehabilitation: Borrowers successfully rehabilitating a defaulted loan will also be automatically placed into the most favorable income-driven repayment plan available.
Status:
Expired
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