OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

S 1098 - Joint Consolidation Loan Separation Act - National Key Vote

Timeline

Related Issues

Stage Details

See How Your Politicians Voted

Title: Joint Consolidation Loan Separation Act

Vote Smart's Synopsis:

Vote to pass a bill that authorizes 2 borrowers, who had previously received a joint consolidation loan for their federal student loan debt, to submit a joint application to the Department of Education to server their consolidated loan into 2 separate loans.

Highlights:

 

  • Authorizes 2 borrowers who have previously received a joint consolidation loan for their federal student loan debt, to submit a joint application to the Department of Education to sever their consolidated loan into 2 separate loans (Sec. 2).

  • Specifies that one borrower may submit a separate application in the event that the individual has experienced domestic or economic abuse from the other borrower or is unable to reasonably reach or access the loan information of the other borrower (Sec. 2).

  • Establishes that in the case of a borrower that receives a separate consolidation loan due to the aforementioned circumstances, the other individual borrower must become solely liable for the remaining balance of the joint consolidation loan (Sec. 2).

Full Bill Text

arrow_upward