To amend the Higher Education Act of 1965 to provide loan deferment and loan cancellation for certain founders and employees of small business start-ups, to amend the Small Business Act to establish a young entrepreneurs business center, 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
This bill, To amend the Higher Education Act of 1965 to provide loan deferment and loan cancellation for certain founders and employees of small business start-ups, to amend the Small Business Act to establish a young entrepreneurs business center, and for other purposes., changes federal law or congressional policy affecting schools, students, and education providers. The main policy domain is Education, Finance, Labor.
Who Benefits and How
schools, students, and education providers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, schools, students, and education providers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section HA1C171ED3DF348FFABE2448A27B60AB7: 1. Short title This Act may be cited as the Supporting America’s Young Entrepreneurs Act of 2024.
- Section H79308C97287C4B38B85C2081D0DAD091: 2. Small business start-up employee loan deferment and cancellation Section 455(f) of the Higher Education Act of 1965 (20 U.S.C. 1087e(f)) is amended— in...
- Section H589ABEBEFEBE4055B4D1D41537677D13: 3. Young entrepreneurs business center The Small Business Act (15 U.S.C. 631 et seq.) is amended— by redesignating section 49 as section 50; and by inserting...
- Section H7149161AEB624FE38ABCD64CED3940E7: 49. Young entrepreneurs business center There is established within the Administration a young entrepreneurs business center that shall— provide certifications...
- Section H15473BA02E71409E8588704BE0269D79: 4. Treatment of loan cancellation Section 108(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:...
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
This bill, To amend the Higher Education Act of 1965 to provide loan deferment and loan cancellation for certain founders and employees of small business start-ups, to amend the Small Business Act to establish a young entrepreneurs business center, and for other purposes., changes federal law or congressional policy affecting schools, students, and education providers.
Key Policy Areas
Education, Finance, Labor
Primary Purpose
This bill, To amend the Higher Education Act of 1965 to provide loan deferment and loan cancellation for certain founders and employees of small business start-ups, to amend the Small Business Act to establish a young entrepreneurs business center, and for other purposes., changes federal law or congressional policy affecting schools, students, and education providers.
Policy Domains
Whole bill
Identified Gains
- schools, students, and education providers
Identified Costs
- federal implementing agencies
- schools, students, and education providers
Sponsors
Legislative Progress
IntroducedMs. Velázquez (for herself, Ms. Chu, Mr. Phillips, and Mr. …
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?
- "the_administrator"
- → The Administrator identified in the operative section
- "secretary_of_education"
- → Secretary of Education
Key Definitions
Terms defined in this bill
a small business concern that, as of the date of submission of an application under subsection (b)— does not exist
a small business concern that, as of the date of submission of an application under subsection (b)— does not exist
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.
Learn more about our methodology