Student Loan Contract Act of 2025
Sponsored By: Representative Underwood
Introduced
Summary
Renames the federal master promissory note for Title IV Part D loans to a “student loan contract”. The bill would require that any master promissory note used for Part D loans be called a student loan contract for periods of enrollment beginning on or after enactment. It would also limit a student loan contract to loans within the same award year as the initial loans it covers and add a conforming wording change in the Higher Education Act.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New rules for federal student loan contracts
This bill would rename the master promissory note for federal Direct Loans as a “student loan contract.” The new name would apply to periods of enrollment that start on or after the date of enactment. A contract would only cover loans for the same award year as the first loans that used it. For a later award year, you would need a new contract. Schools and loan servicers would need to use the updated term and forms.
Sponsors & CoSponsors
Sponsor
Underwood
IL • D
Cosponsors
Adams
NC • D
Sponsored 7/21/2025
Davis (NC)
NC • D
Sponsored 7/21/2025
Jackson (IL)
IL • D
Sponsored 7/21/2025
Davis (IL)
IL • D
Sponsored 7/21/2025
Thanedar
MI • D
Sponsored 7/21/2025
Levin
CA • D
Sponsored 7/25/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in