HR 4344
110th Congress
House
Education
Collection of accounts
Earnings
Economics and Public Finance
Federal aid to education
Federally-guaranteed loans
Finance and Financial Sector
Government lending
Higher education
Labor and Employment
Minimum wages
Poverty
Social Welfare
Student loan funds
Working poor
To amend section 435(o) of the Higher Education Act of 1965 regarding the definition of economic hardship.
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 5, 2008
Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
Dec 11, 2007
Referred to the House Committee on Education and Labor.
Dec 11, 2007
Introduced in House
Plain-English summary
Amends the Higher Education Act of 1965 with respect to the meaning of economic hardship under the Federal Family Education Loan or Perkins Loan and related loan insurance programs.
Considers borrowers under such programs to be suffering economic hardship if they are working full-time, have a federal educational debt burden equal to at least 20% of their adjusted gross income, and the difference between their adjusted gross income minus such debt burden is less than 220% of the greater of: (1) the annual earnings of an minimum wage earner; or (2) 150% of the poverty line applicable to their family size.
What's happening now
Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
Committees of jurisdiction
2