S. 2796 · 111th Congress
A bill to extend the authority of the Secretary of Education to purchase guaranteed student loans for an…
Full title
A bill to extend the authority of the Secretary of Education to purchase guaranteed student loans for an additional year, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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EnziSponsor20 cosponsors · 2 D, 18 R
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Alexander
RB
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Burr
TC
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Coburn
JG
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Gregg
OH
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Hatch
JI
R
Isakson
JM
R
McCain
LM
R
Murkowski
BN
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Nelson
PR
R
Roberts
KH
R
Hutchison
JE
R
Ensign
LG
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Graham
MJ
R
Johanns
RW
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Wicker
JB
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Barrasso
BL
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Lincoln
RB
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Bennett
JT
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Thune
KB
R
Bond10 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Higher Education Act of 1965 to extend by one year, from July 2010 to July 2011, the Secretary of Education's authority to purchase or enter into forward commitments to purchase: (1) Federal Family Education Loans (FFELs) from lenders, upon the determination that there is an inadequate availability of loan capital to meet the demand for such…
What it does: CRS summary · Introduced in Senate · Nov 18, 2009
Amends the Higher Education Act of 1965 to extend by one year, from July 2010 to July 2011, the Secretary of Education's authority to purchase or enter into forward commitments to purchase: (1) Federal Family Education Loans (FFELs) from lenders, upon the determination that there is an inadequate availability of loan capital to meet the demand for such loans; and (2) rehabilitated loans that eligible lenders purchased under the FFEL default reduction program.
Extends by one year, from June 30, 2010 to June 30, 2011, the authority of institutions of higher education (IHEs), with the Secretary's approval, to participate in the FFEL lender-of-last-resort program for borrowers otherwise unable to obtain such loans (thereby requiring guaranty agencies serving as lenders-of-last-resort to make FFELs to student and parent borrowers of such IHEs, until such date, regardless of their ability to otherwise obtain such loans).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to extend the authority of the Secretary of Education to purchase guaranteed student loans for an additional year, and for other purposes.
Latest action (Nov 18, 2009): Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S11496)
Policy area: Education · Origin: Senate · Introduced: Nov 18, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.