• Rep. Randy Hultgren (R-IL) introduced H.R.1283, which would “amend the Higher Education Act of 1965 to require the disclosure of the annual percentage rates applicable to federal student loans.”

• Rep. Ron Kind (D-WI) introduced H.R.1286, the Promoting Education for Lifetime Learning (PELL) Grant Funding Act, which would “direct any profit the government makes from federal student loan programs into federal Pell Grants.” In a press release, Rep. Kind said, “The government shouldn’t be making a profit from federal student loan payments, it should be reinvesting that money to make higher education more affordable for those who need financial help.”

• Sen. Mike Crapo (R-ID) introduced S.487, which would “amend the Internal Revenue Code of 1986 to provide for an exclusion for assistance provided to participants in certain veterinary student loan repayment or forgiveness programs.”

Additionally, Reps. Rodney Davis (R-IL) and Scott Peters (D-CA) have renewed a push for a bill they introduced in early February, H.R.795, the Employer Participation in Student Loan Assistance Act. The bill, which has 31 bipartisan co-sponsors, would “engage private employers and encourage them to offer a tax-free benefit to put toward an employee’s student loan debt, similar to the existing tax benefit for tuition assistance.”

According to a press release, employees would “receive a tax-exempt benefit of up to $5,250 per year to pay on their already incurred student loan debt.”

A related article is available here.