S. 768: Bank on Students Emergency Loan Refinancing Act

116th Congress · introduced 2019-03-13 · Education · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2019-03-13 · 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. 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 revises requirements concerning student loan debt. Specifically, the bill establishes a program that allows eligible individuals with federal or private student loans to refinance them down to the lower rates offered to new federal borrowers in the 2016-2017 school year under certain circumstances. In addition, the bill requires 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 (commonly known as the tentative fair share tax).

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

Bank on Students Emergency Loan Refinancing Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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

Officials and money

Sponsor: Sen. Warren, Elizabeth [D-MA] · 35 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Tammy Baldwin (D-WI), Michael F. Bennet (D-CO), Richard Blumenthal (D-CT), Cory A. Booker (D-NJ), Maria Cantwell (D-WA), Catherine Cortez Masto (D-NV), Tammy Duckworth (D-IL), Richard J. Durbin (D-IL), Kirsten E. Gillibrand (D-NY), Margaret Wood Hassan (D-NH), 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), Tina Smith (D-MN), Chris Van Hollen (D-MD), Sheldon Whitehouse (D-RI), Ron Wyden (D-OR), Martin Heinrich (D-NM), Charles E. Schumer (D-NY)

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-116s768.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/s>

Record fed-us-cong116-s768 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116