Student Loan Reform Bill (Passed) (user search)
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  Student Loan Reform Bill (Passed) (search mode)
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Author Topic: Student Loan Reform Bill (Passed)  (Read 1273 times)
Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« on: October 05, 2015, 05:05:16 PM »
« edited: October 26, 2015, 07:55:48 AM by Speaker Cris »
Student Loan Reform Bill

1. Federal student loans across all categories shall be capped at an aggregate total of $5,000/year for undergraduate students and $10,000/year for graduate students.

2. Student loans shall be retroactively made dischargeable in bankruptcy under circumstances of undue hardship. Undue hardship may be shown if the lendee meets any of the following criteria:
     a. The lendee's debt exceeds 200% of the lendee's income and has done so for at least 12 consecutive months.
     b. The lendee has ongoing expenditures that will continue indefinitely and can demonstrate that these expenditures render the lendee unable to meet the minimum loan payments.
     c. The lendee is, due to circumstances beyond their control, unable to hold or retain gainful employment.

3. These rules will go into effect for the 2016-17 academic year.

Sponsor: PiT
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Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« Reply #1 on: October 07, 2015, 01:19:06 PM »
Senators have 24 hours to object.
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Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« Reply #2 on: October 08, 2015, 12:32:06 PM »
Senator have 24 hours to object to PiT's amendment.
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Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« Reply #3 on: October 10, 2015, 03:32:23 AM »
The amendment has been adopted.
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Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« Reply #4 on: October 21, 2015, 10:13:40 AM »
Considered that we have a new Senator, I think we should let him read the text before to hold a final vote.

If there will not be objections, I'll open a final vote on this tomorrow.
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Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« Reply #5 on: October 23, 2015, 07:34:29 AM »
A final vote is now open. Please vote.
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Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« Reply #6 on: October 24, 2015, 02:10:37 AM »
Aye

This bill has enough votes to pass.
Senators have 24 hours to change/add their votes.
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Senator Cris
Cris
Junior Chimp
*****
Posts: 5,613
Italy


« Reply #7 on: October 26, 2015, 07:49:08 AM »
This bill has passed the Senate.
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