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Blocking New, Improved Federal Student Loan Income-Driven Repayment Rules.

This resolution seeks to nullify a new Department of Education rule designed to improve Income Driven Repayment (IDR) programs for federal student loans. If adopted, the planned benefits and easier terms for borrowers under the William D. Ford Federal Direct Loan and FFEL Programs will not take effect. Consequently, student loan repayment rules will remain unchanged, preventing borrowers from accessing the proposed favorable conditions.
Key points
Main Goal: Congress aims to disapprove the Department of Education's rule intended to improve federal student loan repayment terms (IDR).
Consequence for Borrowers: If the resolution passes, improved, potentially more favorable student loan repayment conditions (Direct Loan and FFEL) will not be implemented.
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51%
VOTING RESULTS
2023-11-16
For 49
Against 50
Abstain 0
Full voting results open_in_new
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Status:
Failed
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Additional Information
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to "Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (FFEL) Program".
Print number: SJRES 43
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2023-09-05
Voting date: 2023-11-16
Voting no: 310