PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S2120-2121)
Congressional Research Service
Version 00 · Introduced in Senate · Apr 1, 2019
Protect Student Borrowers Act of 2019
This bill requires institutions of higher education (IHEs) to assume some of the risk of default for federal student loans.
IHEs must remit risk-sharing payments, based on the amount of defaulted student loans, if 33% or more of their enrolled students have student loans. The Department of Education may reduce or waive the payments under certain circumstances.
The proceeds from the payments must be used for reducing student loan debt, delinquency, or default and increasing Pell grants at IHEs with low default rates that enroll a high percentage of Pell Grant recipients.
People & committees
Sen. Reed, Jack [D-RI] · D–RI
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (Sponsor introductory remarks on measure: CR S2120-2121)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Apr 21, 2025. Consult Congress.gov for the current record.
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