H.R. 6510 (112th): Student Loan Prepayment Standardization Act

Introduced:
Sep 21, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Theodore Deutch [D-FL19]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on September 21, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 21, 2012
Referred to Committee Sep 21, 2012
Cosponsors
2 cosponsors (2D) (show)
Committees

House Education and the Workforce

The committee chair determines whether a bill will move past the committee stage.

Full Title

To require holders of Federal student loans and private education loans to apply prepayment amounts toward loans with the highest rates of interest.

Summary

No summaries available.

Text

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Last updated Sep 21, 2012.
3 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

9/21/2012--Introduced.
Student Loan Prepayment Standardization Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require that when the holder of a borrower's private education loans or loans made under the Federal Family Education Loan (FFEL) or Direct Loan (DL) programs receives a prepayment for such loans, it is to be applied first toward any fees due on such loans and then, unless the borrower requests otherwise, toward the interest and principal due on the loan with the highest interest rate.
Makes that requirement inapplicable to income-based repayment plans for FFELs or DLs.

House Republican Conference Summary

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House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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