LOAN Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4862 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4862 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 1, 2025 Mr. Scott of Virginia (for himself, Mr. Subramanyam, Ms. Underwood, Ms. Moore of Wisconsin, and Mr. Thanedar) introduced the following bill; which was referred to the Committee on Education and 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 _______________________________________________________________________ A BILL 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Lowering Obstacles to Achievement Now Act'' or the ``LOAN Act''. SEC. 2. REPEAL. Subtitles A through F of title VIII of Public Law 119-21 are repealed. The provisions of the Higher Education Act of 1965 (20 U.S.C. 1001 et seq.) amended by such subtitles are restored and revived as if such subtitles had not been enacted. SEC. 3. TABLE OF CONTENTS. The table of contents of this Act is as follows: Sec. 1. Short title. Sec. 2. Repeal. Sec. 3. Table of contents. TITLE I--FEDERAL PELL GRANTS Sec. 101. Doubling Federal Pell Grants and providing all Federal Pell Grants through mandatory funding. Sec. 102. Providing increased Federal Pell Grants and other assistance for recipients