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S. 2124: Skin in the Game Act


The text of the bill below is as of Jul 16, 2019 (Introduced).


II

116th CONGRESS

1st Session

S. 2124

IN THE SENATE OF THE UNITED STATES

July 16, 2019

introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions

A BILL

To amend the Higher Education Act of 1965 to provide for institutional shared responsibility for student loan default.

1.

Short title

This Act may be cited as the Skin in the Game Act.

2.

Institutions of higher education repaying a portion of student loan debts

Section 454 of the Higher Education Act of 1965 (20 U.S.C. 1087d) is amended by adding at the end the following:

(d)

Institutions of higher education repaying a portion of student loan debts

(1)

In general

Each institution of higher education participating in the direct student loan program under this part for a fiscal year shall be liable for 50 percent of any student loan balance that is in default for a loan made under this part that was used towards the cost of attendance at the institution.

(2)

No offset

An institution of higher education shall not increase the costs of tuition at the institution, charge any additional fee to students, or otherwise increase the cost of attendance at the institution in order to offset the liability of the institution under paragraph (1).

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