Parent Plus Parity Act

senate

house

president

Legislation Details

Amends the Higher Education Act of 1965 to provide relief for borrowers of Federal Direct PLUS loans made on behalf of students.
Expands repayment plan options for borrowers, allowing access to income contingent repayment plans starting July 1, 2024.
Introduces provisions for the discharge of Federal Direct PLUS loans in cases of total and permanent disability of the student.
Establishes eligibility for Public Service Loan Forgiveness for Parent PLUS loans, allowing cancellation of the loan balance if the student qualifies for loan forgiveness.
Implements automatic discharge of Parent PLUS loans if the student on whose behalf the loan was taken has their loan discharged.
Allows for the discharge of Parent PLUS loans due to borrower hardship, with the Secretary of Education tasked to define hardship criteria and establish an application process.
Delegates authority to the Secretary of Education to interpret and implement the amendments, considering cost and public health in regulations.

Amends the Higher Education Act of 1965 to provide relief for borrowers of Federal Direct PLUS loans made on behalf of students.
Expands repayment plan options for borrowers, allowing access to income contingent repayment plans starting July 1, 2024.
Introduces provisions for the discharge of Federal Direct PLUS loans in cases of total and permanent disability of the student.
Establishes eligibility for Public Service Loan Forgiveness for Parent PLUS loans, allowing cancellation of the loan balance if the student qualifies for loan forgiveness.
Implements automatic discharge of Parent PLUS loans if the student on whose behalf the loan was taken has their loan discharged.
Allows for the discharge of Parent PLUS loans due to borrower hardship, with the Secretary of Education tasked to define hardship criteria and establish an application process.
Delegates authority to the Secretary of Education to interpret and implement the amendments, considering cost and public health in regulations.