Student Debt Relief Act

The Student Debt Relief Act was intended to release students from debt.

The Student Debt Relief Act is a bill that was introduced to the Senate by the late Senator Edward Kennedy from Massachusetts. It was proposed during a previous session and is now dead, though it can be reproposed.

Intent

According to GovTrack.us, the bill was intended "to amend the Higher Education Act of 1965 to provide additional support to students."

Increase Pell Grants

The bill proposed an increase to the maximum Pell Grant amounts available to students.

Reward Participation in Cost-Effective Loan Programs

The bill also would have required the Secretary of Education to reward institutions for participating in a Federal Family Education Loan or Direct Loan program.

Cut Interest Rates

The proposed bill would have slowly reduced the interest rates charged to student's borrowing for college.

Cap Education Loan Repayments

The bill would have placed caps on the amount poorer students had to repay on their student loans on 15 percent of adjusted gross income.

References

• GovTrack.us: Student Debt Relief Act
• GovTrack.us: Student Debt Relief Act Summary