< Back to H.R. 4834 (111th Congress, 2009–2010)

Text of the Student Debt Reduction Act

This bill was introduced on March 11, 2010, in a previous session of Congress, but was not enacted. The text of the bill below is as of Mar 11, 2010 (Introduced).

Source: GPO

I

111th CONGRESS

2d Session

H. R. 4834

IN THE HOUSE OF REPRESENTATIVES

March 11, 2010

introduced the following bill; which was referred to the Committee on Education and Labor

A BILL

To amend section 493C of the Higher Education Act of 1965 to limit student loan payments to 10 percent of discretionary income, and for other purposes.

1.

Short title

The Act may be cited as the Student Debt Reduction Act.

2.

Income-based repayment

Section 493C of the Higher Education Act of 1965 (20 U.S.C. 1098e) is amended—

(1)

in the matter preceding clause (i) of subsection (a)(3)(B), by striking 15 percent and inserting 10 percent; and

(2)

in the matter preceding clause (i) of subsection (b)(7)(B), by striking 25 years and inserting 20 years.