Student Loan Repayment Freedom Act
This bill allows a federal student loan borrower to terminate repayment under an income-based repayment plan and instead elect to repay such loan under any other repayment plan for which the borrower is eligible. Currently, a federal student loan borrower repaying under an income-based repayment plan may only change to the standard repayment plan.
To amend the Higher Education Act of 1965 to permit a Federal student 
loan borrower to elect to terminate repayment pursuant to income-based 
repayment and repay such loan under any other repayment plan for which 
                  the borrower is otherwise eligible.

    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 ``Student Loan Repayment Freedom 
Act''.

SEC. 2. SWITCHING FROM INCOME-BASED REPAYMENT PLAN.

    Section 493C(b)(8) of the Higher Education Act of 1965 (20 U.S.C. 
1098e(b)(8)) is amended to read as follows:
            ``(8) a borrower who is repaying a loan made under part B 
        or D pursuant to income-based repayment may elect, at any time, 
        to terminate repayment pursuant to income-based repayment and 
        repay such loan under any other repayment plan for which the 
        borrower is otherwise eligible under this title; and''.
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Student Loan Repayment Freedom Act
A bill to amend the Higher Education Act of 1965 to permit a Federal student loan borrower to elect to terminate repayment pursuant to income-based repayment and repay such loan under any other repayment plan for which the borrower is otherwise eligible.
Student Loan Repayment Freedom Act
Sen. Murkowski, Lisa