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Student Loan Contract Act of 2025
To amend the Higher Education Act of 1965 to rename master promissory notes for loans made under part D of title IV of such Act to student loan contracts.
Summary
This Act renames "master promissory notes" to "student loan contracts" for federal student loans made under part D of the Higher Education Act, effective for loans made for periods of enrollment beginning after the bill's enactment. A student loan contract can only be used for loans made under part D within the same award year for which the initial loans using that contract were made. The Act also updates related disclosure requirements to reference the new "student loan contract" terminology.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
6 cosponsors
Money behind the sponsor
Top reported contributors to Lauren Underwood’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- UNIVERSITY OF CHICAGO $33,465
- NORTHWESTERN UNIVERSITY $26,150
- BLUE SHIELD OF CALIFORNIA $18,100
- CORNERSTONE GOVERNMENT AFFAIRS $16,800
- CLIFFORD LAW OFFICES $13,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Lauren Underwood → · Outside spending →
Actions (2)
- Jul 21, 2025 Referred to the House Committee on Education and Workforce. · house
- Jul 21, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
July 21, 2025
Ms. Underwood (for herself, Ms. Adams, Mr. Davis of North Carolina, Mr. Jackson of Illinois, Mr. Davis of Illinois, and Mr. Thanedar) introduced the following bill; which was referred to the Committee on Education and Workforce
A BILL
To amend the Higher Education Act of 1965 to rename master promissory notes for loans made under part D of title IV of such Act to student loan contracts.
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 Contract Act of 2025”.
SEC. 2. STUDENT LOAN CONTRACT AND LOAN DISCLOSURES.
(a) Student Loan Contract.—Section 432(m)(1)(D) of the Higher Education Act of 1965 (20 U.S.C. 1082(m)(1)(D)) is amended by adding at the end the following:
“(iv) Student loan contract.—
“(I) In general.—Any master promissory note form described in this subparagraph that is developed or used for loans made under part D for periods of enrollment beginning on or after the date of enactment of the Student Loan Contract Act of 2025 shall be referred to as a ‘student loan contract’.
“(II) Clarification on use.—A student loan contract for loans made under part D for a student shall only be used with respect to loans made under part D for the periods of enrollment that are in the same award year for which the initial loans for which the contract is used were made.”.
(b) Conforming Amendments.—Section 485(l)(2)(B) of the Higher Education Act of 1965 (20 U.S.C. 1092(l)(2)(B)) is amended by inserting before the period at the end the following: “or the student loan contract”. <all>
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