S. 1162: Bank on Students Emergency Loan Refinancing Act

115th Congress · introduced 2017-05-17 · Education · Latest: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3015)

federal

Follow this bill, step by step

Where it came from: introduced 2017-05-17 · official record
Who proposed it: Sen. Warren, Elizabeth [D-MA] · 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. (Sponsor introductory remarks on measure: CR S3015) 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.

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 Senate), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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What does this mean? (plain words)

Official text

Bank on Students Emergency Loan Refinancing Act

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. Warren, Elizabeth [D-MA] · 39 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Charles E. Schumer (D-NY), Patty Murray (D-WA), Tammy Baldwin (D-WI), Michael F. Bennet (D-CO), Richard Blumenthal (D-CT), Cory A. Booker (D-NJ), Tammy Duckworth (D-IL), Richard J. Durbin (D-IL), Kirsten E. Gillibrand (D-NY), Margaret Wood Hassan (D-NH), Martin Heinrich (D-NM), Mazie K. Hirono (D-HI), Amy Klobuchar (D-MN), Edward J. Markey (D-MA), Jeff Merkley (D-OR), Christopher Murphy (D-CT), Gary C. Peters (D-MI), Jack Reed (D-RI), Bernard Sanders (I-VT), Jeanne Shaheen (D-NH), Chris Van Hollen (D-MD), Sheldon Whitehouse (D-RI), Ron Wyden (D-OR), Catherine Cortez Masto (D-NV), Maria Cantwell (D-WA), Tina Smith (D-MN)

Sponsor's campaign money: Sen. Warren, Elizabeth [D-MA] reported raising $5.0 million (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

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s1162.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s1162 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115