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Parent PLUS Loan Relief: New Repayment Plans and Forgiveness Options.

This Act expands repayment and forgiveness options for federal Parent PLUS loans taken out by parents for their children's education. Parents gain access to more favorable income-driven repayment plans (like SAVE and PAYE), potentially lowering monthly payments significantly. It also introduces new pathways for debt cancellation, including in cases of the student's permanent disability or the parent's financial hardship.
Key points
Parent PLUS borrowers gain access to income-driven repayment plans like SAVE and PAYE, potentially lowering monthly payments significantly starting July 1, 2024.
The loan liability will be discharged (cancelled) if the student on whose behalf the loan was taken becomes permanently and totally disabled.
The Secretary of Education must establish a process for discharging Parent PLUS loans based on the parent borrower's current or future financial hardship.
If the student's own federal loan is discharged (e.g., due to school misconduct or Public Service Loan Forgiveness), the corresponding Parent PLUS loan will also be automatically cancelled.
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Additional Information
Print number: 118_S_5108
Sponsor: Sen. Van Hollen, Chris [D-MD]
Process start date: 2024-09-19
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OFFICIAL LEGAL TITLE

Parent Plus Parity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5108.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-09-19.

What are the main provisions?

Key points include:

  • Parent PLUS borrowers gain access to income-driven repayment plans like SAVE and PAYE, potentially lowering monthly payments significantly starting July 1, 2024.
  • The loan liability will be discharged (cancelled) if the student on whose behalf the loan was taken becomes permanently and totally disabled.
  • The Secretary of Education must establish a process for discharging Parent PLUS loans based on the parent borrower's current or future financial hardship.
  • If the student's own federal loan is discharged (e.g., due to school misconduct or Public Service Loan Forgiveness), the corresponding Parent PLUS loan will also be automatically cancelled.
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. Van Hollen, Chris [D-MD].

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 2025-12-30.

CATEGORIES

Education Benefits Economy