Less Bureaucracy, Better Student Aid Act
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Less Bureaucracy, Better Student Aid Act proposes to transfer all federal student loan management and related policies from the Department of Education to the Department of the Treasury. This includes servicing defaulted and non-defaulted loans, Pell Grants, Perkins Loans, and other student financial assistance programs. The goal is to streamline student aid administration and reduce bureaucratic processes. The transfer will be phased in, with the Department of the Treasury assuming full responsibility over time.
Key provisions
- Transfers all student loan servicing and collection functions to the Department of the Treasury.
- Transfers administrative provisions for student financial assistance programs to the Treasury.
- Transfers lender and institution requirements related to education loans to the Treasury.
- Transfers Pell Grants, Supplemental Educational Opportunity Grants, and Federal Family Education Loan programs to the Treasury.
- Transfers the William D. Ford Federal Direct Loan and Federal Perkins Loan programs to the Treasury.
- Transfers need analysis functions to the Treasury.
- The Director of the Office of Management and Budget will ensure that the transfer does not result in a net increase in full-time equivalent employees.
- Delinquent student loan debt will no longer be exempt from the Debt Collection Improvement Act.
Who is affected
- Students
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours