Virginia Student Loan Refinancing Authority; established, report. (SB52)

Introduced By

Sen. Janet Howell (D-Reston) with support from 9 copatrons, whose average partisan position is:

Those copatrons are Del. Kaye Kory (D-Falls Church), Del. Marcus Simon (D-Falls Church), Sen. Adam Ebbin (D-Alexandria), Sen. Barbara Favola (D-Arlington), Sen. Mamie Locke (D-Hampton), Sen. Dave Marsden (D-Burke), Sen. Don McEachin (D-Richmond), Sen. Scott Surovell (D-Mount Vernon), Sen. Jennifer Wexton (D-Leesburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Student Loan Refinancing Authority established. Establishes the Virginia Student Loan Refinancing Authority, to be governed by a 10-member board, for the purpose of developing and implementing a program by which each individual who incurred qualified education loan debt as a Virginia student at an institution of higher education in the Commonwealth and who is eligible, on the basis of criteria established by the Authority that are substantially similar to criteria used by private lenders in the Commonwealth to evaluate student eligibility for an unsecured personal loan at market rates, may receive a loan from the Authority to refinance all or part of his qualified education loans, as that term is defined in relevant federal law. Amends § 2.2-2905, § 2.2-3705.4, § 2.2-3711, § 2.2-4006, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/16/2015Prefiled and ordered printed; offered 01/13/16 16100703D
12/16/2015Referred to Committee on Education and Health
01/21/2016Assigned Education sub: Higher Education
01/28/2016Continued to 2017 in Education and Health (13-Y 0-N) (see vote tally)
12/02/2016Left in Education and Health

Duplicate Bills

The following bills are identical to this one: HB400.

Comments

Elizabeth Melson writes:

Refinancing student loans should be more accessible and have very low fixed interest rates.