HR. 8475In Committee
Savings Opportunity and Affordable Repayment Act
Establishes a new income driven student loan repayment plan with broad eligibility lower payments principal allocation rules and eventual loan forgiveness
Plain-English overview
What this bill does
Establishes a new income driven student loan repayment plan with broad eligibility lower payments principal allocation rules and eventual loan forgiveness
Key points
- Establish SOAR repayment plan
- Require principal first payment allocation
- Allow federal loan eligibility
- Forgive remaining balances
Current status
Where it stands
Status
In Committee
Latest action
2026-04-23 — Referred to the House Committee on Education and Workforce.
Related context
Topics and policy areas
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