[Congressional Bills 111th Congress] [From the U.S. Government Publishing Office] [H.R. 4834 Introduced in House (IH)] 111th CONGRESS 2d Session H. R. 4834 To amend section 493C of the Higher Education Act of 1965 to limit student loan payments to 10 percent of discretionary income, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 11, 2010 Mr. Schauer introduced the following bill; which was referred to the Committee on Education and Labor _______________________________________________________________________ A BILL To amend section 493C of the Higher Education Act of 1965 to limit student loan payments to 10 percent of discretionary income, 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. The Act may be cited as the ``Student Debt Reduction Act''. SEC. 2. INCOME-BASED REPAYMENT. Section 493C of the Higher Education Act of 1965 (20 U.S.C. 1098e) is amended-- (1) in the matter preceding clause (i) of subsection (a)(3)(B), by striking ``15 percent'' and inserting ``10 percent''; and (2) in the matter preceding clause (i) of subsection (b)(7)(B), by striking ``25 years'' and inserting ``20 years''. <all>