H.R. 4862: LOAN Act
H.R. 4862 status: Referred.
What this bill does
Overall score
Bill summary
OfficialLowering Obstacles to Achievement Now Act or the LOAN Act This bill revises federal student aid programs, including the Federal Pell Grant program and the Public Service Loan Forgiveness (PSLF) program. It also repeals the education provisions that were enacted under P.L. 119-21 (commonly known as the One Big Beautiful...
Key analysis
Impact analysis
Environment
Benefits
- No direct environmental benefit identified
Risks
- No direct environmental risk identified
Economy
Benefits
- Reduces debt burden on millions of borrowers
- Lowers interest costs for consumers
Risks
- Adds massive new mandatory federal spending
- Potential long-term fiscal deficit impact
Society
Benefits
- Significantly increases higher education affordability
- Expands eligibility for Pell Grants and loan forgiveness
- Reduces barriers for low-income and immigrant students
Risks
- Could encourage rapid tuition increases by institutions
How trustworthy & consequential it is
Confidence
highhigh
Information is complete and verified.
Analysis status
Full bill text (Congress.gov)
Source used for this bill's analysis.
High fiscal risk due to shift to mandatory funding for Pell Grants
Full budgetary impact estimation is currently unavailable
Where it stands
Introduced
CompleteCommittee
CurrentReferred
Floor
UpcomingEnacted
UpcomingHow it affects your district
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