H.R. 3695: ExCEL Act of 2015
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H.R. 3695: ExCEL Act of 2015
114th Congress · introduced 2015-10-06 · Education · Latest: Referred to the Subcommittee on Higher Education and Workforce Training.
federal
Follow this bill, step by step
- Where it came from: introduced 2015-10-06 · official record
- Who proposed it: Rep. Zeldin, Lee M. [R-NY-1] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- 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.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
ExCEL Act of 2015
Plain summary
Earnings Contingent Education Loans Act of 2015 or the ExCEL Act of 2015 This bill amends the Higher Education Act of 1965 to replace several existing federal student loan programs with a single repayment plan that caps annual debt repayments based on the borrower's income. The bill terminates the authority of the Department of Education (ED) to make federal Direct Stafford Loans, Direct Unsubsidized Stafford Loans, and Direct PLUS loans, subject to exceptions for existing student borrowers, PLUS loans made to parents of undergraduates, and Direct Consolidation Loans. To replace the programs, the bill establishes the Income Dependent Education Assistance (IDEA) Loan Program and the IDEA Loan Repayment Program, which limit annual repayments based on the borrower's income and prohibit the accrual of interest on loans for active duty service members. Loans under the program are not eligible for the federal public service loan forgiveness program. ED must provide through the Internet a tool to enable borrowers to make payments and access specified details regarding loans. The bill amends the Social Security Act (SSAct) to provide ED with access to information in the National Directory of New Hires to determine when borrowers are hired and remind them of their repayment status and obligation to provide accurate employment information. The bill amends the Internal Revenue Code to require: (1) reporting on W-2 forms the total amount deducted and withheld under the IDEA Loan Repayment Program, and (2) the Department of the Treasury to disclose to ED tax return information necessary to carry out the IDEA Loan Repayment Program.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Zeldin, Lee M. [R-NY-1] · 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 (3)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- 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.
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr3695.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>
Record fed-us-cong114-hr3695 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114