H.R.5801 - U.S. LEADS Act112th Congress (2011-2012)
Summary: H.R.5801 — 112th Congress (2011-2012)
Introduced in House (05/17/2012)
Unshackling Students to Lead, Excel, Act, Develop, and Serve Act of 2012 or U.S. LEADS Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow recent college graduates to defer payment on their student loans under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs without accruing interest when the national unemployment rate exceeds 7% or the unemployment rate for 21-25 year olds exceeds 9%.
Limits that deferral period to a maximum of five years.
Makes the deferral available only to graduates aged 21-25 who received their first baccalaureate degree within the four years preceding this Act's enactment.