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H.R.3959: Pay It Forward College Affordability Act of 2014
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||education|
|You can||read the bill|
|Sponsor||Suzanne Bonamici, D-Ore.|
|Total Cosponsors||1 (All Democrats)|
|Introduced||Jan. 29, 2014|
|Latest Major Action||June 13, 2014|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
Pay It Forward College Affordability Act of 2014 - Direct the Secretary of Education to conduct studies regarding the feasibility of, and options for, implementing the Pay It Forward model for funding postsecondary education.
Directs the Secretary, unless the studies determine that the funding model is not feasible or beneficial, to award competitive matching grants to states to establish and carry out Pay It Forward model state pilot programs.
Limits the number of states and students that may participate in the programs.
Describes the "Pay It Forward model" as a system in which the Secretary, a state, or an institution of higher education (IHE) replaces students' need to borrow under the William D. Ford Federal Direct Loan program by covering all or part of their cost of attending an IHE in exchange for their agreement to contribute a certain percentage (not to exceed 5%) of their annual income for a specified number of years (not to exceed 25 yea...
(Source: Congressional Research Service)
|June 13, 2014||Referred to the Subcommittee on Higher Education and Workforce Training.|
|Jan. 29, 2014||Referred to the House Committee on Education and the Workforce.|