Fairness in Student Loan Repayment Act

Fairness in Student Loan Repayment Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Secretary of Education to make available to borrowers of Federal Family Education Loans (FFELs) the following loan repayment options and benefits that are made available to borrowers of William D. Ford Federal Direct Loans (DLs):

• standard repayment plans, graduated repayment plans, extended repayment plans, income contingent repayment plans, income-based repayment plans, or alternative repayment plans that the Secretary deems appropriate;
• the loan deferments that are made available to certain borrowers who are still in school, unemployed, performing specified military service, or facing an economic hardship;
• payments of interest on behalf of military personnel;
• the repayment plan for public service employees; and
• the non-accrual of interest on the loans of active duty military personnel.

Directs the Secretary to pay to FFEL holders the principal, interest, or special allowance payments needed to apply these options and benefits to FFEL borrowers.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5596 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 5596

    To provide borrowers of Federal Family Education Loans with the 
repayment terms available to borrowers of Federal Direct Loans, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 18, 2014

    Mr. Garcia (for himself, Mr. Hastings of Florida, Mr. Murphy of 
   Florida, and Mr. Payne) introduced the following bill; which was 
        referred to the Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
    To provide borrowers of Federal Family Education Loans with the 
repayment terms available to borrowers of Federal Direct Loans, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fairness in Student Loan Repayment 
Act''.

SEC. 2. REPAYMENT TERMS FOR FEDERAL FAMILY EDUCATION LOANS.

    (a) In General.--Section 455 of the Higher Education Act of 1965 
(20 U.S.C. 1087e) is amended by adding at the end the following new 
subsection:
    ``(r) Repayment Terms for Federal Family Education Loans.--
            ``(1) Applicability of programs available under this 
        section.--The Secretary shall apply subsections (d), (e), (f), 
        (l), (m), and (o) to all loans made under part B as if such 
        loans were made under this part.
            ``(2) Payment of balance and interest.--In carrying out 
        paragraph (1), the Secretary shall pay to the holder of a loan 
        made under part B the amount of principal, interest, or special 
        allowance payments necessary to apply subsections (d), (e), 
        (f), (l), (m), and (o) to such loan, as appropriate.''.
    (b) Consolidation Loans.--Section 428C(a)(3)(B)(i) of the Higher 
Education Act of 1965 (20 U.S.C. 1087-3(a)(3)(B)(i)) is amended--
            (1) in subclause (III), by striking the semicolon and 
        inserting ``; and'';
            (2) in subclause (IV), by striking ``; and'' and inserting 
        a period; and
            (3) by striking subclause (V).
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