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PLUS Loan Accessibility Act

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8/1/2013--Introduced. PLUS Loan Accessibility Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to suspend the provision making individuals with an adverse credit history ineligible for Federal Direct PLUS Loans until the...[more]

Sponsor

  • Rep. Cedric L. Richmond [D, LA-2]

Cosponsors (2)

  • Rep. Corrine Brown [D, FL-5]
  • Rep. Marcia L. Fudge [D, OH-11]

Sponsor: Rep Cedric Richmond (D-LA)

Summary:

  • Would suspend the provision making individuals with an adverse credit history ineligible for Federal Direct PLUS Loans until the Secretary of Education implements final rules on the proposed rules for federal student aid programs developed by a specified negotiated rulemaking committee. (PLUS Loans are provided to graduate or professional students or the parents of dependent undergraduate students.)
 

Talking  Points:

  • Suspends further implementation of adverse credit history determinations by the Department until the completion of 2014 Program Integrity Federal Negotiated Rulemaking and implementation by the Department.  (July 1, 2015 at the earliest if neg. reg. and final rule are completed by Nov. 1, 2014.)
 

Status:

8/1/13 – Introduced and referred to the Ed and Workforce Cmte.

9/13/13 – Referred to the Subcommittee on Higher Education and Workforce Training.