HR 5150
109th Congress
House
Education
Economics and Public Finance
Federally-guaranteed loans
Finance and Financial Sector
Government lending
Higher education
Interest rates
Student loan funds
Reverse the Raid on Student Aid Act of 2006
Introduced: April 6, 2006
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 24, 2006
Referred to the Subcommittee on 21st Century Competitiveness.
Apr 6, 2006
Referred to the House Committee on Education and the Workforce.
Apr 6, 2006
Introduced in House
Plain-English summary
Reverse the Raid on Student Aid Act of 2006 - Amends the Higher Education Act of 1965 to cut student loan interest rates to 3.4% for student borrowers and 4.25% for parent borrowers under the Federal Family Education Loan (FFEL) and William D. Ford Direct Loan programs for loans whose first disbursement is made on or after July 1, 2006. Maintains the current 6.8% interest rate, however, for unsubsidized Stafford loans for middle-income borrowers under such programs.
What's happening now
Referred to the Subcommittee on 21st Century Competitiveness.
Committees of jurisdiction
2