Giving Relief And Dollars to Undergraduates for Adequate Time for Education Act or the GRADUATE Act
This bill eliminates the time limit on taking out federally subsidized student loans, allowing borrowers who have not reached the limit of what they may borrow to continue to obtain funding.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4502 Introduced in House (IH)]
<DOC>
116th CONGRESS
1st Session
H. R. 4502
To eliminate the time limitations on federally subsidized student
loans, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 26, 2019
Mr. Casten of Illinois (for himself, Ms. Haaland, Ms. Garcia of Texas,
and Mr. Krishnamoorthi) introduced the following bill; which was
referred to the Committee on Education and Labor
_______________________________________________________________________
A BILL
To eliminate the time limitations on federally subsidized student
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 ``Giving Relief And Dollars to
Undergraduates for Adequate Time for Education Act'' or the ``GRADUATE
Act''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) From 2015-2016, 3,900,000 students dropped out of
college while holding Federal student debt.
(2) Approximately half of students who dropped out with
debt did so because they were unable to secure funding to
affordably continue their studies.
(3) Students who drop out are 4.2 times more likely to
default on their loans than students who graduated and comprise
63 percent of defaults, in large part because they don't
receive the increase in earnings that comes along with a
degree.
(4) Eliminating the time limit on taking out federally
subsidized loans would allow students who have not hit the
borrowing limit to continue to get the funding they need to
graduate, and would give students more flexibility throughout
their education.
(5) Eliminating the time limit on taking out federally
subsidized loans would ease the administrative burden on
colleges' financial aid offices so they can spend their time
focused on helping students succeed.
SEC. 3. REPEAL OF CERTAIN ELIGIBILITY REQUIREMENTS.
Section 455(q) of the Higher Education Act of 1965 (20 U.S.C.
1087e(q)) is repealed.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Education and Labor.
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