H.R.5895 - Graduate Success Act

To provide interest-free deferment on unsubsidized student loans during periods of unemployment, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To provide interest-free deferment on unsubsidized student loans during periods of unemployment, and for other purposes. as introduced.
  • Short: Graduate Success Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
06/05/12
 
 
 
 
 
 
 

Sponsor

Representative

Karen Bass

D-CA

View Co-Sponsors (39)

Official Summary

Graduate Success Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Secretary of Education to pay the interest that accrues on unsubsidized Federal Family Education Loans (FFELs) and Direct Loans (DLs) that are deferred due to a student borrower&apo

Official Summary

Graduate Success Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Secretary of Education to pay the interest that accrues on unsubsidized Federal Family Education Loans (FFELs) and Direct Loans (DLs) that are deferred due to a student borrower's lack of full-time employment. Requires the Secretary to pay the interest that accrues on Federal Consolidation Loans that are in deferment due to a borrower's lack of full-time employment, provided the application for such a loan is received on or after this Act's enactment. Directs the Secretary to pay the interest that accrues on FFELs and DLs that are subject to income-based repayment provisions and are in deferment due to a borrower's lack of full-time employment. Limits these interest-free deferment periods to those occurring on or after this Act's enactment and covering no more than three years of full-time unemployment.

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