S. 3281: Student Loan Forgiveness and Repayment Assistance Act of 2010
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S. 3281: Student Loan Forgiveness and Repayment Assistance Act of 2010
111th Congress · introduced 2010-04-29 · Education · Latest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
federal
Follow this bill, step by step
- Where it came from: introduced 2010-04-29 · official record
- Who proposed it: Sen. Specter, Arlen [D-PA] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Student Loan Forgiveness and Repayment Assistance Act of 2010
Plain summary
Student Loan Forgiveness and Repayment Assistance Act of 2010 - Amends the Higher Education Act of 1965 to lower the cap on annual, income-based student loan repayments for new borrowers of Direct Loans after July 1, 2014, from 10% to 7% of the amount by which a borrower's and the borrower's spouse's adjusted gross income exceeds 150% of the poverty line. Requires the Secretary of Education to forgive the remaining balance of such loans after 15 (currently, 20) years of repayment. Cancels a public service employee's obligation to repay 5% of the balance of his or her principal and interest on a Direct Loan after 60 monthly payments, 72 monthly payments, 84 monthly payments, 96 monthly payments, and 108 monthly payments as such employee. Requires the Secretary to cancel all of their remaining balance after 120 monthly payments. Amends the Public Health Service Act to set the interest rate on student loans under the Health Professions Education program and the Nursing Workforce Development program at 3.5%. Directs the Secretary to establish a pilot program awarding competitive grants to historically Black colleges and universities and other minority-serving institutions to enable them, without increasing student costs, to increase their: (1) capacity for degree-granting, certificate-granting, adult education, and noncredit programs; (2) student graduation rates. Amends the Department of Education Organization Act to establish an Assistant Secretary for the Evaluation and Promotion of Accessibility and Affordability in Higher Education in the Department of Education, who shall report quarterly to Congress regarding trends in, and means of increasing, the accessibility and affordability of higher education.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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What does this mean? (plain words)
Official text
Student Loan Forgiveness and Repayment Assistance Act of 2010
Source: Congressional Research Service summary (Introduced in Senate)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Specter, Arlen [D-PA] · 0 cosponsors
Cost estimate: No cost estimate published yet.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Obligation
- A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s3281.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s3281 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111