EDUCATION FINANCE COUNCIL, INC.

FASFA Fiasco; Pass the Know Before You Owe Federal Student Loan Act, which strengthens financial counseling; Pass either the S. 528/H.R. 1198 the Understanding the True Cost of College Act or H.R. 1311 the College Cost Transparency and Student Protection Act to reform financial aid offers to make college pricing more transparent and easier to understand; Pass the State-Based Education Loan Awareness Act, which eliminates Preferred Lender List restrictions and penalties that prevent institutions from informing students about private loans offered by nonprofits that feature rates as or more favorable than the federal student loan programs; Subsidize education with more grants and fewer federal student loans; Institute stricter PLUS credit criteria for parent borrowers while still allowing dependent children whose parents fail the new standard to borrow up to independent student loan limits; Pass H.R. 3414 the Responsible Borrowing Act, which allows colleges and universities to prorate or limit the amount of federal student loan debt an enrolled student may take on based on certain categorical factors; and Allow Pell-eligible students to use their grant at shorter-term workforce programs.

Client expense: $21,269 · Firm income: —

Matched citations: S. 528

Discussed issues surrounding the pending cessation of the publication of LIBOR and the need to amend the HEA to address FFELP SAP tied to LIBOR, and HR 4616 Adjustable Interest Rate (LIBOR) Act that provides, among other things, a safe harbor for legacy contracts tied to LIBOR that lack sufficient fallback language to transition to the ARRC rate, SOFR. Also discussed the need for guidance related to Sec. 144b, the Treasury Priority Guidance Plan for 2021-2022, and the filing of Form 1099-C.

Client expense: $11,301 · Firm income: —

Matched citations: HR 4616

Student Financial Aid issues, specifically those related to student loans; and as Congress and the Education Department implement provisions of the CARES Act, and student loan bankruptcy reform. Discussed issues surrounding the pending cessation of the publication of LIBOR and the need to amend the HEA to address FFELP SAP tied to LIBOR, and HR 4616 Adjustable Interest Rate (LIBOR) Act that provides, among other things, a safe harbor for legacy contracts tied to LIBOR that lack sufficient fallback language to transition to the ARRC rate, SOFR. Also discussed the need for guidance related to Sec. 144b and the Treasury Priority Guidance Plan.

Client expense: $12,924 · Firm income: —

Matched citations: HR 4616

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing S.1219, Domenic and Eds Law, which would allow a parent whose child develops a total and permanent disability to qualify for student loan discharge; H.R.2888, Stop Student Debt Relief Scams Act of 2019, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and S.1364, Early Pell Promise Act which would provide more financial certainty for families by pre-qualifying certain students for full Pell Grant support starting as early as the eighth grade and expressed concerns about an amendment offered to H.R.3375, the Stopping Bad Robocalls Act.

Client expense: $16,532 · Firm income: —

Matched citations: H.R.2888

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing S.1219, Domenic and Eds Law, which would allow a parent whose child develops a total and permanent disability to qualify for student loan discharge; H.R.2888, Stop Student Debt Relief Scams Act of 2019, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and S.1364, Early Pell Promise Act which would provide more financial certainty for families by pre-qualifying certain students for full Pell Grant support starting as early as the eighth grade and expressed concerns about an amendment offered to H.R.3375, the Stopping Bad Robocalls Act.

Client expense: $16,532 · Firm income: —

Matched citations: H.R.3375

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing S.1219, Domenic and Eds Law, which would allow a parent whose child develops a total and permanent disability to qualify for student loan discharge; H.R.2888, Stop Student Debt Relief Scams Act of 2019, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and S.1364, Early Pell Promise Act which would provide more financial certainty for families by pre-qualifying certain students for full Pell Grant support starting as early as the eighth grade and expressed concerns about an amendment offered to H.R.3375, the Stopping Bad Robocalls Act.

Client expense: $16,532 · Firm income: —

Matched citations: S.1219

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing S.1219, Domenic and Eds Law, which would allow a parent whose child develops a total and permanent disability to qualify for student loan discharge; H.R.2888, Stop Student Debt Relief Scams Act of 2019, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and S.1364, Early Pell Promise Act which would provide more financial certainty for families by pre-qualifying certain students for full Pell Grant support starting as early as the eighth grade and expressed concerns about an amendment offered to H.R.3375, the Stopping Bad Robocalls Act.

Client expense: $16,532 · Firm income: —

Matched citations: S.1364

Tax Related issues specific to Qualified Student Loan Bonds. Advocated for additional clarity on previously provided guidance, Notice 2015-78, regarding the usage of proceeds of tax-exempt bonds for the purposes of refinancing non-federal education loans. In regards to specific legislation, endorsed S.1428, the Retirement Parity for Student Loans Act which would allow companies to match an employees student loan payment in the form of a contribution to their workplace retirement plan.

Client expense: $16,532 · Firm income: —

Matched citations: S.1428

Tax Related issues specific to Qualified Student Loan Bonds. Specific bills include endorsing H.R.1043 and S.460, Employer Participation in Repayment Act of 2019 which would allow employers to contribute up to $5,250 tax-free to their employees student loans. Advocated for additional clarity from Treasury of prior guidance regarding the use of tax-exempt bond financing to fund education loans.

Client expense: $16,212 · Firm income: —

Matched citations: H.R.1043

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing H.R.811,the Transparency in Student Lending Act, which would require the disclosure of the annual percentage rate (APR) for federal student loans; S.1153, the Stop Student Debt Relief Scams Act, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and both H.R.1043 and S.460, the Employer Participation in Repayment Act, which would allow employers to contribute up to $5,250 tax-free to their employees student loans.

Client expense: $16,212 · Firm income: —

Matched citations: H.R.1043

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing H.R.811,the Transparency in Student Lending Act, which would require the disclosure of the annual percentage rate (APR) for federal student loans; S.1153, the Stop Student Debt Relief Scams Act, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and both H.R.1043 and S.460, the Employer Participation in Repayment Act, which would allow employers to contribute up to $5,250 tax-free to their employees student loans.

Client expense: $16,212 · Firm income: —

Matched citations: H.R.811

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing H.R.811,the Transparency in Student Lending Act, which would require the disclosure of the annual percentage rate (APR) for federal student loans; S.1153, the Stop Student Debt Relief Scams Act, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and both H.R.1043 and S.460, the Employer Participation in Repayment Act, which would allow employers to contribute up to $5,250 tax-free to their employees student loans.

Client expense: $16,212 · Firm income: —

Matched citations: S.1153

Tax Related issues specific to Qualified Student Loan Bonds. Specific bills include endorsing H.R.1043 and S.460, Employer Participation in Repayment Act of 2019 which would allow employers to contribute up to $5,250 tax-free to their employees student loans. Advocated for additional clarity from Treasury of prior guidance regarding the use of tax-exempt bond financing to fund education loans.

Client expense: $16,212 · Firm income: —

Matched citations: S.460

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include endorsing H.R.811,the Transparency in Student Lending Act, which would require the disclosure of the annual percentage rate (APR) for federal student loans; S.1153, the Stop Student Debt Relief Scams Act, which would enhance law enforcement and administrative abilities to identify and shut down student debt relief scams; and both H.R.1043 and S.460, the Employer Participation in Repayment Act, which would allow employers to contribute up to $5,250 tax-free to their employees student loans.

Client expense: $16,212 · Firm income: —

Matched citations: S.460

Tax Related issues specific to Qualified Student Loan Bonds. Specific bills include: H.R. 480, the Student Loan Opportunity Act to allow qualified scholarship funding corporation to access tax-exempt financing for alternative education loans and refinancing loans and advocacy directly with the U.S. Treasury to obtain further clarity of prior guidance regarding the use of tax-exempt bond financing to fund education refinancing loans. And, H.R.6486 - Workforce Development Through Post-Graduation Scholarships Act of 2018 that amends the IRC to exclude post-graduation scholarship grants from gross income in the same manner as scholarships are currently excluded.

Client expense: $13,700 · Firm income: —

Matched citations: H.R. 480

Tax Related issues specific to Qualified Student Loan Bonds. Specific bills include: H.R. 480, the Student Loan Opportunity Act to allow qualified scholarship funding corporation to access tax-exempt financing for alternative education loans and refinancing loans and advocacy directly with the U.S. Treasury to obtain further clarity of prior guidance regarding the use of tax-exempt bond financing to fund education refinancing loans. And, H.R.6486 - Workforce Development Through Post-Graduation Scholarships Act of 2018 that amends the IRC to exclude post-graduation scholarship grants from gross income in the same manner as scholarships are currently excluded.

Client expense: $13,700 · Firm income: —

Matched citations: H.R.6486

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include: S.1121, the College Transparency Act that will modernize the college reporting system for postsecondary data in order to provide greater transparency for students, families, institutions, and policymakers; S.3769 - Early Pell Promise Actthat would establish an Early Federal Pell Grant Commitment Program; and advocacy directly with the Education Department to revised the Teach Grant regulations to improved program outcomes.

Client expense: $13,700 · Firm income: —

Matched citations: S.1121

Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include: S.1121, the College Transparency Act that will modernize the college reporting system for postsecondary data in order to provide greater transparency for students, families, institutions, and policymakers; S.3769 - Early Pell Promise Actthat would establish an Early Federal Pell Grant Commitment Program; and advocacy directly with the Education Department to revised the Teach Grant regulations to improved program outcomes.

Client expense: $13,700 · Firm income: —

Matched citations: S.3769

Preservation of the tax-exempt status of municipal bonds, specifically Qualified Student Loan Bonds. Specific bills include: H.R. 480, the Student Loan Opportunity Act. Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include: S.2768 - VET OPP Act of 2018, H.R.6352 and S.3205 - Know Before You Owe Private Loan Act of 2018,and H.R. 6486 - Workforce Development Through Post-Graduation Scholarships Act of 2018.

Client expense: $14,820 · Firm income: —

Matched citations: H.R. 480

Preservation of the tax-exempt status of municipal bonds, specifically Qualified Student Loan Bonds. Specific bills include: H.R. 480, the Student Loan Opportunity Act. Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include: S.2768 - VET OPP Act of 2018, H.R.6352 and S.3205 - Know Before You Owe Private Loan Act of 2018,and H.R. 6486 - Workforce Development Through Post-Graduation Scholarships Act of 2018.

Client expense: $14,820 · Firm income: —

Matched citations: H.R.6352

Preservation of the tax-exempt status of municipal bonds, specifically Qualified Student Loan Bonds. Specific bills include: H.R. 480, the Student Loan Opportunity Act. Student financial assistance issues, specifically those related to student loans, as Congress works to reauthorize the Higher Education Act. Specific bills include: S.2768 - VET OPP Act of 2018, H.R.6352 and S.3205 - Know Before You Owe Private Loan Act of 2018,and H.R. 6486 - Workforce Development Through Post-Graduation Scholarships Act of 2018.

Client expense: $14,820 · Firm income: —

Matched citations: H.R. 6486