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H.R. 3624: Student Loan Default Prevention Act

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H.R. 3624: Student Loan Default Prevention Act

112th Congress · introduced 2011-12-08 · Education · Latest: Referred to the Subcommittee on Higher Education and Workforce Training.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2011-12-08 · official record
  2. Who proposed it: Rep. Michaud, Michael H. [D-ME-2] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on Higher Education and Workforce Training. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Student Loan Default Prevention Act

Plain summary

Student Loan Default Prevention Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Secretary of Education, upon the request of an eligible guaranty agency, to enter into or revise a voluntary, flexible agreement with that agency to provide services to borrowers and potential borrowers of Federal Family Education Loans (FFELs) or Direct Loans (DLs). Treats guaranty agencies as eligible to participate in such agreements if they have extensive and relevant experience and demonstrated effectiveness in providing such services. Authorizes those guaranty agencies to provide services that include: (1) delinquency prevention and default aversion activities, (2) collecting defaulted loans, (3) monitoring institutions that participate in the DL program, (4) training financial aid officials, and (5) informational outreach to schools and students that supports access to higher education and financial literacy. Requires the Secretary to pay fees to such agencies that are cost neutral and take into account the savings projected from the provision of such services.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Student Loan Default Prevention Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Michaud, Michael H. [D-ME-2] · 7 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Chellie Pingree (D-ME), Eleanor Holmes Norton (D-DC), James P. McGovern (D-MA)

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.

Sources

Record fed-us-cong112-hr3624 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112