Deferment for Active Cancer Treatment Act of 2018

Bill: 115-s-3207
Sponsor: full_name: Sen. Nelson, Bill [D-FL]
Introduced: 2018-07-12
Policy area: Education
Subjects: Cancer

Higher education

Interest, dividends, interest rates

Student aid and college costs
Latest action: action_date: 2018-07-12
text: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Summaries:
action_date: 2018-07-12
action_desc: Introduced in Senate
text: <p><b>Deferment for Active Cancer Treatment Act of 2018</b></p> <p>This bill amends the Higher Education Act of 1965 to allow borrowers to defer student loans while they are receiving cancer treatment and during the six months after treatment.</p>

tv_txt: II 115th CONGRESS 2d Session S. 3207 IN THE SENATE OF THE UNITED STATES July 12, 2018 Mr. Nelson introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To amend the Higher Education Act of 1965 to allow for the deferment of certain student loans during a period in which a borrower is receiving treatment for cancer.

1. Short title This Act may be cited as the Deferment for Active Cancer Treatment Act of 2018 . 2. Student loan deferment for borrowers receiving cancer treatment (a) Direct Loans Section 455(f) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(f) ) is amended— (1) by redesignating paragraphs (3) and (4) as paragraphs (4) and (5), respectively; and (2) by inserting after paragraph (2) the following: (3) Deferment for borrowers receiving cancer treatment (A) Effect on principal and interest A borrower of a loan made under this part who meets the requirements of subparagraph (B) shall be eligible for a deferment, during which periodic installments of principal need not be paid, and interest shall not accrue. (B) Eligibility A borrower of a loan made under this part shall be eligible for a deferment during— (i) any period in which such borrower is receiving treatment for cancer; and (ii) the 6 months after such period. (C) Applicability This paragraph shall apply with respect to loans— (i) made on or after the date of the enactment of this paragraph; or (ii) in repayment on the date of the enactment of this paragraph. . (b) Terms of federally insured student loans Section 427(a)(2)(C) of the Higher Education Act of 1965 ( 20 U.S.C. 1077(a)(2)(C) ) is amended— (1) in clause (ii), by striking ; or and inserting a semicolon; (2) in clause (iii), by inserting or after the semicolon; and (3) by inserting after clause (iii) the following: (iv) in which the borrower is receiving treatment for cancer and the 6 months after such period; . (c) FFEL program Section 428(b)(1)(M) of the Higher Education Act of 1965 ( 20 U.S.C. 1078(b)(1)(M) ) is amended— (1) in clause (iii), by striking or (II); or and inserting a or (II); ; (2) in clause (iv), by inserting or after the semicolon; and (3) by adding at the end the following: (v) during which the borrower is receiving treatment for cancer and the 6 months after such period; . (d) Federal Perkins loans Section 464(c)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1087dd(c)(2) ) is amended— (1) in subparagraph (A)— (A) in clause (iv), by striking ; or and inserting a semicolon; (B) in clause (v), by inserting or after the semicolon; and (C) by inserting after clause (v) the following: (vi) during which the borrower is receiving treatment for cancer and the 6 months after such period; . (e) Interest on unsubsidized Stafford loans Section 428H(e)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1078–8(e)(2) ) is amended— (1) in subparagraph (A), by striking Interest and inserting Except as provided in subparagraph (C), interest ; and (2) by adding at the end the following: (C) Interest shall not accrue on a loan deferred under section 428(b)(1)(M)(v) or 427(a)(2)(C)(iv). . (f) Applicability The amendments made by this Act shall apply with respect to loans— (1) made on or after the date of the enactment of this Act; or (2) in repayment on the date of the enactment of this Act.