Shutdown Student Loans for Feds Act
Student Loans: Payment Relief During Government Shutdowns
This bill was recently introduced and is currently being reviewed by the House Committee on Education and Workforce. It is in the early stages of the lawmaking process and has no upcoming votes scheduled at this time. The bill is considered active as it waits for the committee to decide on its next steps.
Legislative Progress
This bill was introduced by a member of the minority party and has not yet gained support from the opposing party. Most bills like this stay in committee and never reach a full vote.
Key Points
- This bill would pause federal student loan payments for government employees and contractors if a government shutdown lasts for at least 14 days. It is designed to help people who are working without pay or are sent home during budget fights.
- While payments are paused, interest would not grow on the loans. This prevents workers from being penalized with extra debt because they were not receiving their normal paychecks during a shutdown.
- The time spent in the pause would still count toward loan forgiveness programs like Public Service Loan Forgiveness. This ensures that a shutdown does not delay a worker's path to being debt free.
- To protect workers' financial reputations, the bill requires that these paused payments be reported to credit bureaus as if they were made on time. This helps prevent a shutdown from damaging a worker's credit score.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Education and Workforce.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Shutdown Student Loans for Feds Act
Data Sources
Sponsor
Cosponsors
(14)Analysis generated by AI. Always verify with official sources.