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S. 2028: Protect Student Borrowers Act of 2017

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S. 2028: Protect Student Borrowers Act of 2017

115th Congress · introduced 2017-10-26 · Education · Latest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855)

federal

Follow this bill, step by step

  1. Where it came from: introduced 2017-10-26 · official record
  2. Who proposed it: Sen. Reed, Jack [D-RI] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S6855) 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

Protect Student Borrowers Act of 2017

Plain summary

Protect Student Borrowers Act of 2017 This bill amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to assume some of the risk of default for student loans under the program. For any fiscal year in which at least 33% of the IHE's student body is participating in the Direct Loan program, the IHE must remit a risk-sharing payment that is based on the amount of its defaulted Direct Loans.

Congressional Research Service summary (Introduced in Senate), 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

Protect Student Borrowers Act of 2017

Source: Congressional Research Service summary (Introduced in Senate)

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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: Sen. Reed, Jack [D-RI] · 3 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Richard J. Durbin (D-IL), Elizabeth Warren (D-MA), Christopher Murphy (D-CT)

Sponsor's campaign money: Sen. Reed, Jack [D-RI] reported raising $3.7 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 (2)
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).
Fiscal year
The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong115-s2028 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115