# 117-hr-8472: LOAN Act of 2022

117-hr-8472, LOAN Act of 2022, is a 117th Congress bill sponsored by Rep. Luria, Elaine G. [D-VA-2] (D-VA); status Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, 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. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/117-hr-8472
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 117-hr-8472
- Congress: 117
- Title: LOAN Act of 2022
- Status: Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, 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.
- Introduced: 2022-07-21
- Sponsor: Rep. Luria, Elaine G. [D-VA-2] (D-VA)
- Cosponsors: 0
- Policy area: Education
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Leveraging Opportunities for Americans Now Act of 2022 or the LOAN Act of 2022 This bill revises interest rates and repayment plans for federal student loans. Specifically, the bill directs the Department of Education (ED) to set the interest rate on federal student loans made on or after July 1, 2022, at 0% and replace the interest with a one-time financing fee. Further, the bill permits ED to credit or refund borrowers who pay the balance of their loan earlier than required by their repayment plan with the amount of the financing fee. In addition, the bill establishes an income-dependent education assistance repayment plan as the default repayment plan for federal student loans. A borrower may select either this new plan or a 10-year fixed repayment plan. ED must calculate annual repayment amounts and provide annual statements to borrowers. The Department of the Treasury must transmit tax information to ED as necessary to determine a borrower's repayment obligations and financing fee adjustments.

## Related bills

- 117-hr-1437: Further Continuing Appropriations and Extensions Act, 2023
- 117-hr-1667: Dr. Lorna Breen Health Care Provider Protection Act
- 117-hr-1448: PAWS for Veterans Therapy Act
- 117-hr-3537: Accelerating Access to Critical Therapies for ALS Act
- 117-hr-7791: Access to Baby Formula Act of 2022
- 117-hr-1193: Cardiovascular Advances in Research and Opportunities Legacy Act

## Sources
- [117-hr-8472 on Congress.gov](https://www.congress.gov/bill/117th-congress/house-bill/8472)

## Related
- [117-hr-1437: Further Continuing Appropriations and Extensions Act, 2023](https://policyrisk.com/legislation/117-hr-1437)
- [117-hr-1667: Dr. Lorna Breen Health Care Provider Protection Act](https://policyrisk.com/legislation/117-hr-1667)
- [117-hr-1448: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/117-hr-1448)
- [117-hr-3537: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/117-hr-3537)
- [117-hr-7791: Access to Baby Formula Act of 2022](https://policyrisk.com/legislation/117-hr-7791)
- [117-hr-1193: Cardiovascular Advances in Research and Opportunities Legacy Act](https://policyrisk.com/legislation/117-hr-1193)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/117-hr-8472 (as of 2025-11-18).