VERY IMPORTANT BILL!!!!- H.R.2028
May 26, 2011 - Introduced in House. This is the original text of the bill as it was written by its sponsor and submitted to the House for consideration.
HR 2028 IH
112th CONGRESS
1st Session
H. R. 2028
To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.
IN THE HOUSE OF REPRESENTATIVES
May 26, 2011
Mr. COHEN (for himself, Mr. DAVIS of Illinois, Mr. CONYERS, Mr. GEORGE MILLER of California, Mr. GRIJALVA, Mr. ACKERMAN, Mr. BERMAN, Mr. TOWNS, Ms. MOORE, Mr. BISHOP of New York, Mr. DOYLE, Mr. STARK, Mr. JOHNSON of Georgia, Mr. RYAN of Ohio, Mr. WATT, Ms. CHU, and Mr. POLIS) introduced the following bill; which was referred to the Committee on the Judiciary
A BILL-
To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘Private Student Loan Bankruptcy Fairness Act of 2011’.
SEC. 2. EXCEPTIONS TO DISCHARGE.
Section 523(a)(8) of title 11, United States Code, is amended--
(1) by striking subparagraph (B), and
(2) in subparagraph (A)--
(A) in clause (i)--
(i) by striking ‘(i)’, and
(ii) by inserting ‘any program for which substantially all of the funds are provided by a’ after ‘unit or’, and
(B) in clause (ii)--
(i) by striking ‘(ii)’ and inserting ‘(B)’, and
(ii) by striking ‘or’ at the end.
SEC. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
(a) Effective Date- Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act.
(b) Application of Amendments- The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act
Click this link to H.R.2028 It has the current status of the bill and a check list of how far it has gone so please come back often and check on it day-by-day.http://www.govtrack.us/congress/bill.xpd?bill=h112-2028
HR 2028 IH
112th CONGRESS
1st Session
H. R. 2028
To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.
IN THE HOUSE OF REPRESENTATIVES
May 26, 2011
Mr. COHEN (for himself, Mr. DAVIS of Illinois, Mr. CONYERS, Mr. GEORGE MILLER of California, Mr. GRIJALVA, Mr. ACKERMAN, Mr. BERMAN, Mr. TOWNS, Ms. MOORE, Mr. BISHOP of New York, Mr. DOYLE, Mr. STARK, Mr. JOHNSON of Georgia, Mr. RYAN of Ohio, Mr. WATT, Ms. CHU, and Mr. POLIS) introduced the following bill; which was referred to the Committee on the Judiciary
A BILL-
To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘Private Student Loan Bankruptcy Fairness Act of 2011’.
SEC. 2. EXCEPTIONS TO DISCHARGE.
Section 523(a)(8) of title 11, United States Code, is amended--
(1) by striking subparagraph (B), and
(2) in subparagraph (A)--
(A) in clause (i)--
(i) by striking ‘(i)’, and
(ii) by inserting ‘any program for which substantially all of the funds are provided by a’ after ‘unit or’, and
(B) in clause (ii)--
(i) by striking ‘(ii)’ and inserting ‘(B)’, and
(ii) by striking ‘or’ at the end.
SEC. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.
(a) Effective Date- Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act.
(b) Application of Amendments- The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act
Click this link to H.R.2028 It has the current status of the bill and a check list of how far it has gone so please come back often and check on it day-by-day.http://www.govtrack.us/congress/bill.xpd?bill=h112-2028
This page will be for all the info on the H.R.2028
Organizations that will support the bill
National Education Association (NEA)
Consumers Union of the US National Council of La Raza (NCLR)
Public Citizen
American Federation of Teachers
American Association of Community Colleges
American Council on Education
US Public Interest Research Group (PIRG)
Americans for Democratic Action
National Association of Student Financial Aid Administrators
United States Student Association
Consumer Federation of America
American Association of State Colleges and Universities
Consumer Action
Studentloanjustice.Org
Organizations against the bill
N/A....No organizations have reported that they are opposed of it yet
This link is to all the comments left by everyone and graphic interface of where people stand on this bill
So i have found a lot of bills that are trying to help us out
Student Loan Bill Tracker. If you like a bill, tell your senator or
representative to co-sign it. If you're into the bankruptcy bills, you may also
be interested in debtor education course information at
TotalBankruptcy.
Highest Impact Bills Right Now:
Bills with the Most Press Right ow
Senate Bills
S. 1068 (Private Student Loan Debt Swap Act of
2011) - This is Senator Brown's (D-OH) bill. It's way better than
the bankruptcy versions below since it wouldn't severely negatively affect our
credit score. Formerly S. 1541 (Private Student Loan Debt Swap Act of 2009)
which got stuck in Senate Committee on Health, Education, Labor, and
Pensions.
Status: 5/25/2011 - Referred to Senate Committee on Health,
Education, Labor, and Pensions.
S. 2733 (Private Education Loan Ombudsman
Act) - This is Senator Brown's (D-OH) bill. It's a good step
towards holding Sallie Mae's despicable practices accountable.
Status:
11/5/2009 - Stuck in Senate Committee on Health, Education, Labor, and
Pensions.
S. 3281 (Forgiveness and Repayment Assistance Act of
2010) - Lowers payment amounts from 10% to 7% for the Federal
Direct income-based repayment plans and lowers forgiveness from 20 years to 15
years for 2014+ students only.
Status: 4/29/2010 - Stuck in Senate Committee
on Health, Education, Labor, and Pensions.
S. 1102 (Private Student Loan Bankruptcy Fairness Act
of 2011) - Only in 2005, one year after Sallie Mae became 100%
private, did private student loans suddenly get protected from consumer
bankruptcy laws. This is not the best solution since it would encourage people
to borrow during college and then declare bankruptcy upon graduation, but it
would be better than not acting on the problem. Fomerly S. 3219 (Private Student
Loan Bankruptcy Fairness Act of 2010) which got stuck in the Senate Committee on
the Judiciary.
Status: 5/26/2011 - Referred to Senate Committee on the
Judiciary.
House Bills
H.R. 2028 (Private Student Loan Bankruptcy Fairness
Act of 2011) - House version of above. Formerly H.R. 5043 (Private
Student Loan Bankruptcy Fairness Act of 2010) which passed Commercial and
Administrative Law subcommittee but got stuck in House Judiciary
committee.
Status: 5/26/2011 - Referred to House Committee on the
Judiciary.
H.R. 5055 (College Debt Swap Act of
2010) - House version of Brown's S. 1541. The "adverse credit
history" clause is worrying. If we can't pay the private student loans now,
hence the reason for this bill, we're going to have adverse credit
history.
Status: 4/30/2010 - In process. Currently in House Subcommittee on
Higher Education, Lifelong Learning, and Competitiveness.
H.R. 3149 (Equal Employment for All
Act) - Safeguards student loan debtors by preventing employers from
making decisions based on credit scores.
Status: 9/23/2010 - Hearings Held by
the Subcommittee on Financial Institutions and Consumer Credit Prior to
Referral.
H.R. 4834 (Student Debt Reduction Act)
- Extends 2014+ repayment terms and repayment amounts to all Federal Direct
customers.
Status: 4/30/2010 - In process. Currently in House Subcommittee on
Higher Education, Lifelong Learning, and Competitiveness.
H.R. 5078 (Higher Education Affordability and Equity
Act of 2010) - Makes all educational expenses, including interest
on student loans, tax deductible with no caps on amounts.
Status: 4/20/2010
- Stuck in House Committee on Ways and Means.
H.R. 4574 (Student Loan Interest Full Deductibility
Act) - More limited version of above.
Status: 2/2/2010 - Stuck
in House Committee on Ways and Means.
H.R. 5458 (Christopher Bryski Student Loan
Protection Act) - Increase transparency and disclosure requirements
for private loans, and provide for relief if the borrower died. Does not help
monthly payments.
Status: 9/29/2010 - Passed to Senate. Stuck there in Senate
Committee on Health, Education, Labor, and Pensions
representative to co-sign it. If you're into the bankruptcy bills, you may also
be interested in debtor education course information at
TotalBankruptcy.
Highest Impact Bills Right Now:
- S.
1068 (Private Student Loan Debt Swap Act of 2011) - Ditch Sallie
Mae for the Fed, gain monthly payment protections, don't ruin your credit
score. - H.R.
4834 (Student Debt Reduction Act) - Today's high school freshmen
are going to have it pretty sweet when they get to college. Not as sweet as EU
students, but still. If this bill passes, we all get their sweet Fed repayment
terms.
Bills with the Most Press Right ow
- S. 1102 (Private Student Loan Bankruptcy Fairness Act of 2011) / H.R. 2028 (Private Student Loan Bankruptcy Fairness Act of 1
2011) - Discharge your student loans in a standard bankruptcy
filing.
Senate Bills
S. 1068 (Private Student Loan Debt Swap Act of
2011) - This is Senator Brown's (D-OH) bill. It's way better than
the bankruptcy versions below since it wouldn't severely negatively affect our
credit score. Formerly S. 1541 (Private Student Loan Debt Swap Act of 2009)
which got stuck in Senate Committee on Health, Education, Labor, and
Pensions.
Status: 5/25/2011 - Referred to Senate Committee on Health,
Education, Labor, and Pensions.
S. 2733 (Private Education Loan Ombudsman
Act) - This is Senator Brown's (D-OH) bill. It's a good step
towards holding Sallie Mae's despicable practices accountable.
Status:
11/5/2009 - Stuck in Senate Committee on Health, Education, Labor, and
Pensions.
S. 3281 (Forgiveness and Repayment Assistance Act of
2010) - Lowers payment amounts from 10% to 7% for the Federal
Direct income-based repayment plans and lowers forgiveness from 20 years to 15
years for 2014+ students only.
Status: 4/29/2010 - Stuck in Senate Committee
on Health, Education, Labor, and Pensions.
S. 1102 (Private Student Loan Bankruptcy Fairness Act
of 2011) - Only in 2005, one year after Sallie Mae became 100%
private, did private student loans suddenly get protected from consumer
bankruptcy laws. This is not the best solution since it would encourage people
to borrow during college and then declare bankruptcy upon graduation, but it
would be better than not acting on the problem. Fomerly S. 3219 (Private Student
Loan Bankruptcy Fairness Act of 2010) which got stuck in the Senate Committee on
the Judiciary.
Status: 5/26/2011 - Referred to Senate Committee on the
Judiciary.
House Bills
H.R. 2028 (Private Student Loan Bankruptcy Fairness
Act of 2011) - House version of above. Formerly H.R. 5043 (Private
Student Loan Bankruptcy Fairness Act of 2010) which passed Commercial and
Administrative Law subcommittee but got stuck in House Judiciary
committee.
Status: 5/26/2011 - Referred to House Committee on the
Judiciary.
H.R. 5055 (College Debt Swap Act of
2010) - House version of Brown's S. 1541. The "adverse credit
history" clause is worrying. If we can't pay the private student loans now,
hence the reason for this bill, we're going to have adverse credit
history.
Status: 4/30/2010 - In process. Currently in House Subcommittee on
Higher Education, Lifelong Learning, and Competitiveness.
H.R. 3149 (Equal Employment for All
Act) - Safeguards student loan debtors by preventing employers from
making decisions based on credit scores.
Status: 9/23/2010 - Hearings Held by
the Subcommittee on Financial Institutions and Consumer Credit Prior to
Referral.
H.R. 4834 (Student Debt Reduction Act)
- Extends 2014+ repayment terms and repayment amounts to all Federal Direct
customers.
Status: 4/30/2010 - In process. Currently in House Subcommittee on
Higher Education, Lifelong Learning, and Competitiveness.
H.R. 5078 (Higher Education Affordability and Equity
Act of 2010) - Makes all educational expenses, including interest
on student loans, tax deductible with no caps on amounts.
Status: 4/20/2010
- Stuck in House Committee on Ways and Means.
H.R. 4574 (Student Loan Interest Full Deductibility
Act) - More limited version of above.
Status: 2/2/2010 - Stuck
in House Committee on Ways and Means.
H.R. 5458 (Christopher Bryski Student Loan
Protection Act) - Increase transparency and disclosure requirements
for private loans, and provide for relief if the borrower died. Does not help
monthly payments.
Status: 9/29/2010 - Passed to Senate. Stuck there in Senate
Committee on Health, Education, Labor, and Pensions