The bill would amend the Higher Education Act to allow certain parent federal student loans to be transferred to the child whose education they financed. Transfers would require the loan to be in good standing, the child to be at least 18 and able to repay, written agreement by the child, parent, and lender, and a 180-day period outside specified educational programs. After transfer, the child would become the borrower and the parent would no longer owe the loan; prior qualifying Public Service Loan Forgiveness payments would count toward the child’s eligibility, and the loan would not count against the child’s federal loan limits.

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