To amend the Higher Education Act of 1965 to double the Pell Grant award amount, improve the Public Service Loan Forgiveness program, and reduce interest rates, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires short title; effective date; table of contents This Act may be cited as the Lowering Obstacles to Achievement Now Act or the LOAN Act, creates doubling Federal Pell Grants and providing all Federal Pell Grants through mandatory funding Section 401 of the Higher Education Act of 1965 (20 U.S.C, and creates providing increased Federal Pell Grants and other assistance for recipients of means-tested benefits Section 401(b)(1) of the Higher Education Act of 1965 (20 U.S.C. It relies on definition changes, compliance mandates, grants, and appropriations. The main policy areas are Education, Finance, Environment, and Housing.
Who Benefits and How
Educational institutions and students affected by the bill could face reduced risk, Financial services firms and customers affected by the bill could gain revenue opportunities, and Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Financial services firms and customers affected by the bill would take on compliance duties, and Educational institutions and students affected by the bill would take on compliance duties.
Key Provisions
- Requires short title; effective date; table of contents This Act may be cited as the Lowering Obstacles to Achievement Now Act or the LOAN Act.
- Creates doubling Federal Pell Grants and providing all Federal Pell Grants through mandatory funding Section 401 of the Higher Education Act of 1965 (20 U.S.C.
- Creates providing increased Federal Pell Grants and other assistance for recipients of means-tested benefits Section 401(b)(1) of the Higher Education Act of 1965 (20 U.S.C.
- Creates federal aid eligibility for dreamer students Section 484 of the Higher Education Act of 1965 (20 U.S.C.
- Creates restoring the total semesters of Federal Pell Grant eligibility Section 401(d)(5)(A) of the Higher Education Act of 1965, as added by section 703 of the FAFSA Simplification Act (Public Law 116–260), is amended...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires short title; effective date; table of contents This Act may be cited as the Lowering Obstacles to Achievement Now Act or the LOAN Act, creates doubling Federal Pell Grants and providing all Federal Pell Grants through mandatory funding Section 401 of the Higher Education Act of 1965 (20 U.S.C, and creates providing increased Federal Pell Grants and other assistance for recipients of means-tested benefits Section 401(b)(1) of the Higher Education Act of 1965 (20 U.S.C.
Key Policy Areas
Education, Finance, Environment, Housing
Primary Purpose
The bill requires short title; effective date; table of contents This Act may be cited as the Lowering Obstacles to Achievement Now Act or the LOAN Act, creates doubling Federal Pell Grants and providing all Federal Pell Grants through mandatory funding Section 401 of the Higher Education Act of 1965 (20 U.S.C, and creates providing increased Federal Pell Grants and other assistance for recipients of means-tested benefits Section 401(b)(1) of the Higher Education Act of 1965 (20 U.S.C.
Policy Domains
Whole bill
Identified Gains
- Educational institutions and students affected by the bill
- Financial services firms and customers affected by the bill
- Public beneficiaries or protected communities affected by the clause
- Environmental and public health interests affected by the bill
- Homeowners, tenants, or housing market participants affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Financial services firms and customers affected by the bill
- Educational institutions and students affected by the bill
- Environmental and public health interests affected by the bill
- Homeowners, tenants, or housing market participants affected by the bill
Sponsors
Legislative Progress
IntroducedMs. Wilson of Florida (for herself, Mrs. McBath, Mr. Courtney, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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