legislation: 114-hr-6250

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
114-hr-6250 114 hr 6250 RISE Act Education 2016-09-28 2016-09-28 Referred to the House Committee on Education and the Workforce. House Rep. Gallego, Ruben [D-AZ-7] AZ D G000574 1 Relief and Investment for Student Entrepreneurs Act or the RISE Act This bill amends the Higher Education Act of 1965 by allowing a qualified entrepreneur with a loan under the William D. Ford Federal Direct Loan program to defer loan payments for up to 3 years. A "qualified entrepreneur" is a borrower who: (1) has received a degree during the 10-year period before the date of the deferment, (2) has at least one registered business entity, (3) has raised capital of not less than $30,000 for such business entity, and (4) has an outstanding loan balance of not less than $5,000. The Department of Education may cancel up to $17,500 of federal direct and unsubsidized Stafford loans for a borrower who: (1) has operated a small business located in a historically underutilized business zone for at least three years, and (2) is not currently in default on the loan. 2023-01-11T13:33:40Z  

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