We have received text from H.R. 4862: Lowering Obstacles to Achievement Now Act. This bill was received on 2025-08-01, and currently has 18 cosponsors.
Here is a short summary of the bill:
The "Lowering Obstacles to Achievement Now Act" seeks to make significant changes to the Higher Education Act, with the following key elements:
Pell Grant Increases
The bill proposes to double the amount of Pell Grant awards, which are federal funds provided to lower-income students to help them pay for college. This increase is intended to make higher education more accessible and affordable for those who qualify.
Improvements to the Public Service Loan Forgiveness Program
Improvements will be made to the Public Service Loan Forgiveness program, which is designed to forgive federal student loans for individuals who work in eligible public service jobs after making a specified number of payments. The bill aims to simplify the process and enhance eligibility criteria, making it easier for borrowers to receive forgiveness on their loans.
Reduction of Student Loan Interest Rates
The legislation proposes to reduce the interest rates on federal student loans, which could lower the overall cost of borrowing for students and recent graduates. This change is aimed at alleviating some financial burdens associated with student debt.
Loan Repayment Guidelines
The bill establishes new guidelines for how loan prepayment amounts are calculated based on current interest rates and the principal balance of the loans. It allows borrowers to request exceptions to certain repayment terms, thus providing more flexibility.
Borrower Notifications and Automatic Enrollment
To improve communication and support for borrowers, the Secretary of Education will be required to notify borrowers about different eligible repayment plans available to them. In addition, delinquent borrowers (those at least 80 days overdue) will be automatically enrolled in an Income-Driven Repayment Plan, which adjusts monthly payments based on income.
Rehabilitation of Defaulted Loans
The bill includes provisions for borrowers who are rehabilitating their defaulted loans. These borrowers will receive notifications regarding their payment agreements and will be automatically enrolled in payment plans contingent on their ability to make payments. The Secretary will also ensure access to updated income information to help borrowers manage their repayment plans.
Written Rehabilitation Agreements
For those undergoing rehabilitation of their loans, the bill mandates the Secretary to provide a written rehabilitation payment agreement. This agreement will outline the terms of rehabilitation, any recalculation options upon objections, and the consequences of rehabilitation. Furthermore, once a borrower successfully rehabilitates their loans, the defaults will be removed from their credit history.
Income-Related Assessments
The bill outlines specific conditions for income-related assessments, aimed at ensuring that borrowers receive fair evaluations based on their financial situations to determine their repayment obligations.
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Representative Robert C. "Bobby" Scott Bill Proposals
Here are some bills which have recently been proposed by Representative Robert C. "Bobby" Scott:
- H.R.5740: To amend the Child Nutrition Act of 1966 to require mandatory funding for the special supplemental nutrition program for women, infants, and children, and for other purposes.
- H.R.4862: LOAN Act
- H.R.4771: Transformation to Competitive Integrated Employment Act
- H.R.4418: Child Care for Working Families Act
- H.R.3997: Protecting Children Act
- H.R.3606: Equity and Inclusion Enforcement Act of 2025
You can track bills proposed by Representative Robert C. "Bobby" Scott on Quiver Quantitative's politician page for Scott.
Representative Robert C. "Bobby" Scott Net Worth
Quiver Quantitative estimates that Representative Robert C. "Bobby" Scott is worth $1.7M, as of October 16th, 2025. This is the 267th highest net worth in Congress, per our live estimates.
Scott has approximately $728.1K invested in publicly traded assets which Quiver is able to track live.
You can track Representative Robert C. "Bobby" Scott's net worth on Quiver Quantitative's politician page for Scott.
Representative Robert C. "Bobby" Scott Stock Trading
We have data on up to $745.0K of trades from Representative Robert C. "Bobby" Scott, which we parsed from STOCK Act filings. Some of the largest trades include:
- A June 16th, 2020 sale of up to $50K of $PAYX. The stock has risen 66.78% since then.
- A June 16th, 2020 sale of up to $50K of $SYY. The stock has risen 41.68% since then.
- A December 28th, 2021 sale of up to $15K of $CSL. The stock has risen 35.24% since then.
- A December 28th, 2021 sale of up to $15K of $FITB. The stock has fallen 1.96% since then.
- A June 16th, 2020 sale of up to $15K of $YUM. The stock has risen 57.32% since then.
You can track Representative Robert C. "Bobby" Scott's stock trading on Quiver Quantitative's politician page for Scott.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
