S. 85: Repay Act of 2015
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S. 85: Repay Act of 2015
114th Congress · introduced 2015-01-07 · Education · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2015-01-07 · official record
- Who proposed it: Sen. King, Angus S., Jr. [I-ME] · 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 Finance. 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
Repay Act of 2015
Plain summary
Repay Act of 2015 Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Secretary of Education to carry out a simplified income-driven repayment program for students who become new borrowers of William D. Ford Federal Direct Loans (DLs) on or after July 1, 2015. Sets a student's annual repayment obligation under the program at: 10% of the borrower's discretionary income (gross income that exceeds 150% of the federal poverty level) that is less than $25,000, adjusted for inflation; plus 15% of the borrower's discretionary income that is equal to or greater than $25,000, adjusted for inflation. Directs the Secretary to cancel the outstanding balance on a DL under the repayment program if the borrower: for 20 years made monthly payments under the program or was in deferment due to economic hardship and had a DL principal balance at the outset of the repayment period that did not exceed a specified amount; or for 25 years made monthly payments under the program or was in deferment due to economic hardship and had a DL principal balance at the outset of the repayment period that exceeded a specified amount. Requires the Secretary to offer borrowers of DLs made on or after July 1, 2015, the following repayment plans: (1) a fixed repayment plan (currently referred to as a standard repayment plan), or (2) a simplified income-driven repayment plan, but this plan is only available to student borrowers. Authorizes the Secretary to provide an alternative repayment plan to a borrower of a DL made on or after July 1, 2015, if the borrower demonstrates that these repayment options do not accommodate the borrower's exceptional circumstances. Continues to allow borrowers of DLs to accelerate, without penalty, their repayment of such loans. Makes public service employees who make 120 monthly payments on their DL under a simplified income-driven repayment plan eligible for the public service employee loan forgiveness program. Amends the Internal Revenue Code to exclude from gross income debt the Secretary discharges on a borrower's subsidized Federal Family Education Loan (FFEL) or DL due to the borrower's death or disability. Directs the Secretary to require servicers of FFELs and DLs to: (1) provide borrowers with information regarding their loan repayment options, and (2) offer to enroll borrowers in alternative plans for which they are eligible. Requires the Comptroller General (GAO) to: (1) study the feasibility of simplifying the process for enrolling in, and verifying annual eligibility for, this Act's simplified income-driven repayment program; and (2) provide recommendations for the efficient administration of income-based repayment programs.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. King, Angus S., Jr. [I-ME] · 12 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Mark R. Warner (D-VA), Susan M. Collins (R-ME), Shelley Moore Capito (R-WV), Jeanne Shaheen (D-NH), Roger F. Wicker (R-MS)
Sponsor's campaign money: Sen. King, Angus S., Jr. [I-ME] reported raising $72,269 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.
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-114s85.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>
Record fed-us-cong114-s85 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114