COVID-19 Graduate Relief Act

I 116TH CONGRESS 2D SESSION H. R. 6502 To amend the Higher Education Act of 1965 to provide for deferral of loan repayment for graduates during the period of the coronavirus. IN THE HOUSE OF REPRESENTATIVES APRIL 14, 2020 Mr. HARDER of California (for himself, Mr. FITZPATRICK, Ms. STEFANIK, Mr. SUOZZI, Mr. PANETTA, Mr. COX of California, Ms. SLOTKIN, Mrs. HAYES, Mr. THOMPSON of Mississippi, Ms. PORTER, Ms. JOHNSON of Texas, Mr. LEVIN of California, and Mr. ROUDA) introduced the fol- lowing bill; which was referred to the Committee on Education and Labor A BILL To amend the Higher Education Act of 1965 to provide for deferral of loan repayment for graduates during the period of the coronavirus. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘COVID-19 Graduate 4 Relief Act’’. 5 VerDate Sep 11 2014 01:53 Apr 21, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H6502.IH H6502 pamtmann on DSKBC07HB2PROD with BILLS 2 •HR 6502 IH SEC. 2. DEFERRAL OF LOAN REPAYMENT FOR GRADUATES 1 DURING THE PERIOD OF THE CORONAVIRUS. 2 (a) IN GENERAL.—Part G of title IV of the Higher 3 Education Act of 1965 (20 U.S.C. 1088 et seq.) is amend- 4 ed by adding at the end the following: 5 ‘‘SEC. 493E. DEFERRAL OF LOAN REPAYMENT FOR GRAD- 6 UATES DURING THE PERIOD OF THE 7 CORONAVIRUS. 8 ‘‘(a) DEFERRAL OF LOAN REPAYMENT.—In addition 9 to any deferral of repayment of a loan made under this 10 title pursuant to this title, a borrower of a loan under this 11 title who is an eligible individual as described in subsection 12 (b), shall be eligible for a deferment of such loan during 13 the period, not to exceed 3 years, following the date of 14 enactment of the COVID-19 Graduate Relief Act. 15 ‘‘(b) ELIGIBLE INDIVIDUAL.— 16 ‘‘(1) IN GENERAL.—A borrower of a loan under 17 this title is an eligible individual if the individual 18 graduates from the eligible institution for which the 19 individual borrowed the loan to enroll during the pe- 20 riod beginning on January 1, 2020, and ending on 21 December 31, 2020. 22 ‘‘(2) EXTENSION.—The Secretary may extend 23 the period described in paragraph (1) for additional 24 1-year periods, but not later than through December 25 31, 2022, if the Secretary determines, in writing, in 26 VerDate Sep 11 2014 01:53 Apr 21, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H6502.IH H6502 pamtmann on DSKBC07HB2PROD with BILLS 3 •HR 6502 IH consultation with the Secretary of Labor, the Sec- 1 retary of Treasury, and the Secretary of Health and 2 Human Services, that the anticipated economic im- 3 pact of the coronavirus on graduates of eligible insti- 4 tutions over the relevant 1-year extension period ne- 5 cessitates such extension. 6 ‘‘(3) CONSIDERATIONS.—In making a deter- 7 mination regarding whether the anticipated eco- 8 nomic impact of the coronavirus on graduates of eli- 9 gible institutions necessitates an extension pursuant 10 to paragraph (2), the Secretary shall consider— 11 ‘‘(A) whether a national emergency with 12 respect to the coronavirus is in effect; 13 ‘‘(B) relevant economic indicators, includ- 14 ing recent unemployment statistics from the 15 Bureau of Labor Statistics; and 16 ‘‘(C) relevant data and projections related 17 to the transmission or seasonal recurrence of 18 the coronavirus and any existing or anticipated 19 measures by Federal, State, or local govern- 20 ments to prevent, prepare for, and respond to 21 the coronavirus. 22 ‘‘(c) CORONAVIRUS.—The term ‘coronavirus’ means 23 coronavirus as defined in section 506 of the Coronavirus 24 VerDate Sep 11 2014 01:53 Apr 21, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H6502.IH H6502 pamtmann on DSKBC07HB2PROD with BILLS 4 •HR 6502 IH Preparedness and Response Supplemental Appropriations 1 Act, 2020 (Public Law 116–123).’’. 2 (b) EFFECTIVE DATE.—The amendment made by 3 subsection (a) shall take effect from the period beginning 4 on the date of enactment of this Act until the date that 5 is 3 years after such date of enactment. 6 Æ VerDate Sep 11 2014 01:53 Apr 21, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\H6502.IH H6502 pamtmann on DSKBC07HB2PROD with BILLS