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117th Congress · Senate

Joint Consolidation Loan Separation Act

Subjects: Consumer credit · Domestic violence and child abuse · Government lending and loan guarantees · Higher education · Marriage and family status · Student aid and college costs · Education

In plain language

  • Senate bill in the 117th Congress.
  • Allows two borrowers, who had previously received a joint consolidation loan for their federal student loan debt.
  • House passed it on Sep 21, 2022 (substantive).
Official summary (Congressional Research Service)

Joint Consolidation Loan Separation Act This act allows two borrowers, who had previously received a joint consolidation loan for their federal student loan debt, to submit a joint application to the Department of Education to sever their consolidated loan into two separate loans. One borrower may submit a separate application in the event that the individual has experienced domestic or economic abuse from the other individual borrower or is unable to reasonably reach or access the loan information of the other borrower. In the case of a borrower who receives a separate consolidation loan due to those circumstances, the other individual borrower must become solely liable for the remaining balance of the joint consolidation loan.

View this measure on congress.gov

Roll-call votes on this measure