I 
115TH CONGRESS 
1ST SESSION H. R. 4000 
To provide for the establishment of a mechanism to allow borrowers of 
Federal student loans to refinance their loans, to amend the Internal 
Revenue Code of 1986 to extend the exclusion for employer-provided 
educational assistance to employer payment of interest on certain refi-
nanced student loans, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 10, 2017 
Mrs. COMSTOCK introduced the following bill; which was referred to the Com-
mittee on Education and the Workforce, and in addition to the Com-
mittee on Ways and Means, for a period to be subsequently determined 
by the Speaker, in each case for consideration of such provisions as fall 
within the jurisdiction of the committee concerned 
A BILL 
To provide for the establishment of a mechanism to allow 
borrowers of Federal student loans to refinance their 
loans, to amend the Internal Revenue Code of 1986 
to extend the exclusion for employer-provided educational 
assistance to employer payment of interest on certain 
refinanced student loans, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Student Loan Relief 
Act of 2017’’. 
SEC. 2. PURPOSE. 
The purpose of this Act is to spur economic growth 
by establishing a mechanism to allow borrowers of Federal 
student loans to refinance their loans in order— 
(1) to allow credit-worthy borrowers to get a 
lower interest rate than the Federal rate; 
(2) to encourage innovation in the education re-
financing markets; and 
(3) to promote the participation of private cap-
ital in the education refinancing markets. 
TITLE I—REFINANCING 
STUDENT LOANS 
SEC. 101. DEFINITIONS. 
In this title— 
(1) the term ‘‘Federal student loan’’ means a 
loan made, insured, or guaranteed under title IV of 
the Higher Education Act of 1965 (20 U.S.C. 1070 
et seq.); and 
(2) the term ‘‘Secretary’’ means the Secretary 
of the Treasury, other than in the context of the 
Secretary of Education. 
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SEC. 102. TEMPORARY AUTHORITY TO CREATE A CREDIT 
FACILITY TO INCREASE MARKET EFFICIENCY 
IN THE STUDENT LOAN MARKET. 
(a) AUTHORITY.— 
(1) IN
GENERAL.—The Secretary, notwith-
standing any provision of section 484 of the Higher 
Education Act of 1965 (20 U.S.C. 1091), is author-
ized to facilitate Federal student loan refinancing 
into the private market to ensure that borrowers pay 
lower interest rates that are commensurate with 
credit risk, so that they may pursue more economi-
cally productive activities, such as home purchases 
and small business formation. 
(2) NO NET COST TO GOVERNMENT.—Mecha-
nisms established under this subsection shall not re-
sult in any net cost to the Federal Government, as 
determined jointly by the Secretary, the Secretary of 
Education, and the Director of the Office of Man-
agement and Budget. 
(3) FEDERAL
GUARANTEE.—A private loan 
that results from refinancing under a program es-
tablished under the authority of this section shall re-
ceive a Federal Government guarantee of 95 percent 
of the private loan, including accrued interest on 
such loan. 
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