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H.R. 2477: Bank on Students Emergency Loan Refinancing Act

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H.R. 2477: Bank on Students Emergency Loan Refinancing Act

115th Congress · introduced 2017-05-17 · Education · Latest: Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2017-05-17 · official record
  2. Who proposed it: Rep. Courtney, Joe [D-CT-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 Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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

Bank on Students Emergency Loan Refinancing Act

Plain summary

Bank on Students Emergency Loan Refinancing Act This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to establish a program that allows eligible students with loans under the Federal Direct Loan program (a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan) to refinance their loans down to the lower rates offered to new federal borrowers in the 2016-2017 school year under certain circumstances. In addition, the bill allows student borrowers to refinance their private loans into the Federal Direct Loan program. This bill amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax).

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

Bank on Students Emergency Loan Refinancing Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Rep. Courtney, Joe [D-CT-2] · 137 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Alma S. Adams (D-NC), Pete Aguilar (D-CA), Nanette Diaz Barragán (D-CA), Donald S. Beyer, Jr. (D-VA), Suzanne Bonamici (D-OR), Brendan F. Boyle (D-PA), Julia Brownley (D-CA), Salud O. Carbajal (D-CA), Kathy Castor (D-FL), Judy Chu (D-CA), Steve Cohen (D-TN), J. Luis Correa (D-CA), Diana DeGette (D-CO), Rosa L. DeLauro (D-CT), Suzan K. DelBene (D-WA), Mark DeSaulnier (D-CA), Debbie Dingell (D-MI), Dwight Evans (D-PA), Bill Foster (D-IL), Steny H. Hoyer (D-MD), Pramila Jayapal (D-WA), Henry C. "Hank" Johnson, Jr. (D-GA), John B. Larson (D-CT), Ben Ray Luján (D-NM), Stephen F. Lynch (D-MA), Doris O. Matsui (D-CA), James P. McGovern (D-MA), Seth Moulton (D-MA), Donald Norcross (D-NJ), Eleanor Holmes Norton (D-DC), Chellie Pingree (D-ME), Jamie Raskin (D-MD) and 77 more.

Sponsor's campaign money: Rep. Courtney, Joe [D-CT-2] reported raising $966,514 (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)
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).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong115-hr2477 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115