PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in House · Jun 8, 2017
Relief and Investment for Student Entrepreneurs Act or the RISE Act
This bill amends the Higher Education Act of 1965 to allow a qualified entrepreneur with a loan under the William D. Ford Federal Direct Loan program to defer loan payments for up to 3 years. A "qualified entrepreneur" is a borrower who: (1) has received a degree during the 10-year period before the date of the deferment, (2) has at least one registered business entity, (3) has raised capital of not less than $30,000 for such business entity, and (4) has an outstanding loan balance of not less than $5,000.
The Department of Education may cancel up to $17,500 of federal direct and unsubsidized Stafford loans for a borrower who: (1) has operated a small business located in a historically underutilized business zone for at least three years, and (2) is not currently in default on the loan.
People & committees
Rep. Gallego, Ruben [D-AZ-7] · D–AZ
Legislative record
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Referred to the House Committee on Education and the Workforce.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 11, 2025. Consult Congress.gov for the current record.
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