H.R. 5613: RISE Act
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H.R. 5613: RISE Act
116th Congress · introduced 2020-01-15 · Education · Latest: Referred to the House Committee on Education and Labor.
federal
Follow this bill, step by step
- Where it came from: introduced 2020-01-15 · official record
- Who proposed it: Rep. Gallego, Ruben [D-AZ-7] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Education and Labor. 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
RISE Act
Plain summary
Relief and Investment for Student Entrepreneurs Act or the RISE Act This bill provides deferment and cancellation of certain loans under the Federal Direct Loan program for qualified entrepreneurs. Specifically, the bill allows a qualified entrepreneur with a loan under the Federal Direct Loan program to defer loan payments for up to three years. A qualified entrepreneur is a borrower who (1) receives a degree during the 10-year period before the borrower requests a deferment, (2) registers at least one business entity, (3) raises capital of not less than $15,000 for such business entity, and (4) has an outstanding loan balance of not less than $5,000. The Department of Education may cancel up to $17,500 of Federal Direct Stafford Loans and Federal Direct Unsubsidized Stafford Loans for a borrower who (1) has operated a small business located in a historically underutilized business zone for at least three years, and (2) is not currently in default on the loan.
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)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Gallego, Ruben [D-AZ-7] · 4 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Greg Stanton (D-AZ)
Sponsor's campaign money: Rep. Gallego, Ruben [D-AZ-7] reported raising $4.8 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 House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-116hr5613.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>
Record fed-us-cong116-hr5613 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116