# 114-hr-3947: Student Loan Payment Optimization Act

114-hr-3947, Student Loan Payment Optimization Act, is a 114th Congress bill sponsored by Rep. Deutch, Theodore E. [D-FL-22] (D-FL); status Referred to the Subcommittee on Higher Education and Workforce Training. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-3947
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-3947
- Congress: 114
- Title: Student Loan Payment Optimization Act
- Status: Referred to the Subcommittee on Higher Education and Workforce Training.
- Introduced: 2015-11-05
- Sponsor: Rep. Deutch, Theodore E. [D-FL-22] (D-FL)
- Cosponsors: 3
- Policy area: Education
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Student Loan Payment Optimization Act This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 and the Truth in Lending Act to establish rules that lenders must follow regarding the overpayment and underpayment of student loan payments for borrowers with one or more loans that are grouped together. These rules are applicable to the Federal Family Education Loan and the William D. Ford Federal Direct Loan programs, except for income-based repayment plans, and federal Perkins Loans. The bill requires lenders to apply payments that are more than the monthly payment amount towards any outstanding fees owed and then towards the principal due on the loan that bears the highest interest rate. In addition, lenders must apply payments that are less than the monthly payment amount towards any outstanding fees owed and then towards the loan with the smallest balance of principal and interest combined unless the borrower requests otherwise.

## Cosponsors (3)

- Rep. Wilson, Frederica S. [D-FL-24] (D-FL), 2015-12-15T00:00:00.000Z
- Rep. Frankel, Lois [D-FL-22] (D-FL), 2015-12-15T00:00:00.000Z
- Rep. Swalwell, Eric [D-CA-14] (D-CA), 2016-02-10T00:00:00.000Z

## Related bills

- 114-hr-5373: LGBT Data Inclusion Act
- 114-hr-5292: Air Traffic Controller Hiring Improvement Act of 2016
- 114-hr-5044: Making supplemental appropriations for fiscal year 2016 to respond to Zika virus.
- 114-hr-4603: Hate Crimes Prevention Act
- 114-hr-4592: Naismith Memorial Basketball Hall of Fame Commemorative Coin Act
- 114-hr-4521: Lake Berryessa Recreation Enhancement Act of 2016

## Sources
- [114-hr-3947 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/3947)

## Related
- [114-hr-5373: LGBT Data Inclusion Act](https://policyrisk.com/legislation/114-hr-5373)
- [114-hr-5292: Air Traffic Controller Hiring Improvement Act of 2016](https://policyrisk.com/legislation/114-hr-5292)
- [114-hr-5044: Making supplemental appropriations for fiscal year 2016 to respond to Zika viru…](https://policyrisk.com/legislation/114-hr-5044)
- [114-hr-4603: Hate Crimes Prevention Act](https://policyrisk.com/legislation/114-hr-4603)
- [114-hr-4592: Naismith Memorial Basketball Hall of Fame Commemorative Coin Act](https://policyrisk.com/legislation/114-hr-4592)
- [114-hr-4521: Lake Berryessa Recreation Enhancement Act of 2016](https://policyrisk.com/legislation/114-hr-4521)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-3947 (as of 2025-11-18).