S. 2815 · 110th Congress
Strengthening Student Aid for All Act
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KennedySponsor5 cosponsors · 4 D, 1 I
5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Strengthening Student Aid for All Act - Amends the Higher Education Act of 1965 to increase the maximum annual and aggregate unsubsidized Stafford loan amounts that may be provided to undergraduate students under the Federal Family Education Loan (FFEL) program.
What it does: CRS summary · Introduced in Senate · Apr 3, 2008
Strengthening Student Aid for All Act - Amends the Higher Education Act of 1965 to increase the maximum annual and aggregate unsubsidized Stafford loan amounts that may be provided to undergraduate students under the Federal Family Education Loan (FFEL) program.
Allows parents of dependent students to defer PLUS FFEL principal repayment until such students cease to be enrolled as undergraduates on at least a half-time basis.
Directs the Secretary of Education to act as the secondary market of last resort for FFELs, until July 2009, by purchasing such loans from lenders who cannot sell them in the private financial markets and thereby raise the capital needed to make new loans. Permits the Secretary to act in such capacity after such date if economic conditions threaten timely, uninterrupted access to student loans.
Changes title IV need analyses by allowing the calculation of a negative expected family contribution. Increases the Pell Grant available to students whose expected family contribution is a negative number.
Allows institutions of higher education (IHEs) to participate in the FFEL lender-of-last-resort program, thereby requiring guaranty agencies serving as lenders of last resort to make FFELs to students of such IHEs regardless of their ability to otherwise obtain such loans. Authorizes the Secretary to advance needed funds to guaranty agencies acting as lenders of last resort in such situations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Strengthening Student Aid for All Act
Latest action (Apr 3, 2008): Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S2442-2443)
Policy area: Education · Origin: Senate · Introduced: Apr 3, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.