HBCU Capital Finance Debt Relief Act

Bill: 116-hr-7380
Sponsor: full_name: Rep. Adams, Alma S. [D-NC-12]
Introduced: 2020-06-26
Policy area: Education
Subjects: Education programs funding

Government lending and loan guarantees

Higher education

Minority education

School administration
Latest action: action_date: 2020-06-26
text: Referred to the House Committee on Education and Labor.

Summaries:
action_date: 2020-06-26
action_desc: Introduced in House
text: <p><b>HBCU Capital Finance Debt Relief Act</b></p> <p>This bill requires the Department of Education to, within 30 days, cancel the obligation of historically Black colleges and universities to repay the balance of principal and interest due on their capital financing loans.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 7380 IN THE HOUSE OF REPRESENTATIVES June 26, 2020 Ms. Adams (for herself, Ms. Johnson of Texas , Ms. Sewell of Alabama , Mr. Cooper , Mr. Thompson of Mississippi , Mr. Carson of Indiana , Ms. Lee of California , Mr. Bishop of Georgia , Mr. Hastings , Mr. Clay , and Ms. Norton ) introduced the following bill; which was referred to the Committee on Education and Labor A BILL To cancel the obligation of historically black colleges and universities to repay certain capital financing loans, and for other purposes.

1. Short title This Act may be cited as the HBCU Capital Finance Debt Relief Act . 2. Cancellation of debt under HBCU capital financing program Not later than 30 days after the date of the enactment of this Act, the Secretary of Education shall cancel the obligation of each eligible institution (as defined in section 342 of the Higher Education Act of 1965 ( 20 U.S.C. 1066a )) to repay the balance of interest and principal due on each loan made under part D of title III of the Higher Education Act of 1965 ( 20 U.S.C. 1066 et seq.) before the date of the enactment of this Act.