The "LOAN Act" stands for the Lowering Obstacles to Achievement Now Act. This bill aims to reduce barriers to accessing federal student loans by simplifying the application process and making it easier for students to qualify for financial aid. It includes provisions to streamline the loan application, improve loan counseling services, and expand eligibility criteria. The bill seeks to increase access to higher education, particularly for low-income students, by addressing challenges in obtaining federal student loans.
2023-03-22: Introduced in House
2023-03-22: Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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