H.R. 10220
Auto-enrolls late student loan borrowers in payment plans
Tells the Education Department to notify federal student loan borrowers who fall behind and to move those 75 days late into the income-based plan with the lowest monthly payment.
- Borrowers 31 days late get a notice listing their loans and payment options
- At 75 days late, the government picks the income-based plan with the lowest monthly payment
- Borrowers can opt out and send their income information themselves instead
- Starts July 1, 2028; also covers borrowers rebuilding defaulted loans
In committee