To require the Secretary of Education to verify that individuals have made a commitment to serve in the Armed Forces or in public service, or otherwise are a borrower on an eligible loan which has been submitted to a guaranty agency for default aversion or is already in default, before such individuals obtain a consolidation loan.
About This Bill
Committee
Latest Action · November 16, 2015
Referred to the Subcommittee on Higher Education and Workforce Training.
This bill amends the Higher Education Act of 1965, with respect to eligibility for consolidation loans, to require verification of a borrower's status by the Department of Education in the following cases:
for obtaining income-contingent or -based repayment, and only if the loan has been submitted to the guaranty agency for default aversion or where the loan is already in default; for the purposes of using the public service loan forgiveness program; or for the purpose of using the no accrual of interest benefit for active duty service members.
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