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HR 5 110th Congress House Education Administrative fees Collection of accounts Commerce Economics and Public Finance Federal aid to education Federally-guaranteed loans Finance and Financial Sector Government lending Higher education Interest rates Law Rebates Small business Student loan funds Subsidies

College Student Relief Act of 2007

Introduced: January 12, 2007 See on congress.gov
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 16 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 17, 2007
Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Jan 17, 2007
Motion to reconsider laid on the table Agreed to without objection.
Jan 17, 2007
On passage Passed by the Yeas and Nays: 356 - 71 (Roll no. 32). (text: CR H597-598)
Jan 17, 2007
On motion to recommit with instructions Failed by the Yeas and Nays: 186 - 241 (Roll no. 31).
Jan 17, 2007
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H630)
Jan 17, 2007
Floor Summary: DEBATE - The House proceeded with 10 minutes of debate on the McKeon motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment inserting a new section providing for benefits contingent on income or military service.
Jan 17, 2007
Mr. McKeon moved to recommit with instructions to Education and Labor. (consideration: CR H628-630; text: CR H628-629)
Jan 17, 2007
The previous question was ordered pursuant to the rule. (consideration: CR H628)
Jan 17, 2007
DEBATE - The House proceeded with three hours of debate on H.R. 5.
Jan 17, 2007
Rule provides for consideration of H.R. 5 with 3 hours of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments.
Jan 17, 2007
Considered under the provisions of rule H. Res. 65. (consideration: CR H597-631)
Jan 17, 2007
Rule H. Res. 65 passed House.
Jan 16, 2007
Rules Committee Resolution H. Res. 65 Reported to House. Rule provides for consideration of H.R. 5 with 3 hours of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments.
Jan 12, 2007
Referred to the House Committee on Education and Labor.
Jan 12, 2007
Sponsor introductory remarks on measure. (CR E101-102)
Jan 12, 2007
Introduced in House
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 Plain-English summary Congressional Research Service

College Student Relief Act of 2007 - Amends the Higher Education Act of 1965 to phase-in cuts in the interest rate charged undergraduate student borrowers under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs, thereby reducing such rate from 6.8% in July 2006 to 3.4% in July 2011.

Limits FFEL lender insurance to 95% of the unpaid balance of such loans. (Currently, 97% of a FFEL issued after June 2006 is federally-insured.)

Provides for graduated reductions in the percentage of defaulted FFEL loan collections a guaranty agency is allowed to retain until, beginning in October 2010, it is equal to the average rate paid to collection agencies that have contracts with the Secretary of Education.

Eliminates exceptional performer status for lenders, servicers, and guaranty agencies, which rewards such entities for high due diligence in FFEL collection.

Reduces special allowance payments made to FFEL lenders to compensate them for the difference between FFEL interest rates and market rates. Exempts small lenders from such reduction.

Increases the loan fee charged FFEL lenders from .5% to 1% of the principal amount of loans disbursed after June 2007. Prohibits its collection from borrowers.

Increases, after June 2007, the rebate fee charged a holder of FFEL consolidated loans, provided that at least 90% of the total principal and accrued unpaid interest outstanding on loans held by such holder are such loans.

What's happening now January 17, 2007

Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Related & companion bills 1
  • HRES 65 Procedurally related Providing for consideration of the bill (H.R. 5) to amend the Higher Education Act of 1965 to reduce interest rates for…
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 44
All 44 Democratic 44
D
Bishop, Sanford D.
Georgia · Jan 16, 2007
 D
Baldwin, Tammy
Wisconsin · Jan 12, 2007
 D
Castor, Kathy
Florida · Jan 12, 2007
 D
Clarke, Yvette D.
New York · Jan 12, 2007
 D
Clyburn, James E.
South Carolina · Jan 12, 2007
 D
Cohen, Steve
Tennessee · Jan 12, 2007
 D
Costa, Jim
California · Jan 12, 2007
 D
Courtney, Joe
Connecticut · Jan 12, 2007
 D
Cuellar, Henry
Texas · Jan 12, 2007
 D
Davis, Danny K.
Illinois · Jan 12, 2007
 D
DeGette, Diana
Colorado · Jan 12, 2007
 D
DeLauro, Rosa L.
Connecticut · Jan 12, 2007
 D
Doggett, Lloyd
Texas · Jan 12, 2007
 D
Gillibrand, Kirsten E.
New York · Jan 12, 2007
 D
Green, Al
Texas · Jan 12, 2007
 D
Hirono, Mazie K.
Hawaii · Jan 12, 2007
 D
Hoyer, Steny H.
Maryland · Jan 12, 2007
 D
Johnson, Henry C. "Hank"
Georgia · Jan 12, 2007
 D
Kaptur, Marcy
Ohio · Jan 12, 2007
 D
Larsen, Rick
Washington · Jan 12, 2007
 D
Larson, John B.
Connecticut · Jan 12, 2007
 D
Lofgren, Zoe
California · Jan 12, 2007
 D
Lynch, Stephen F.
Massachusetts · Jan 12, 2007
 D
Markey, Edward J.
Massachusetts · Jan 12, 2007
 D
Matsui, Doris O.
California · Jan 12, 2007
 D
McCollum, Betty
Minnesota · Jan 12, 2007
 D
McGovern, James P.
Massachusetts · Jan 12, 2007
 D
Murphy, Christopher
Connecticut · Jan 12, 2007
 D
Nadler, Jerrold
New York · Jan 12, 2007
 D
Norton, Eleanor Holmes
District of Columbia · Jan 12, 2007
 D
Pallone, Frank
New Jersey · Jan 12, 2007
 D
Sánchez, Linda T.
California · Jan 12, 2007
 D
Schakowsky, Janice D.
Illinois · Jan 12, 2007
 D
Schiff, Adam B.
California · Jan 12, 2007
 D
Scott, Robert C. "Bobby"
Virginia · Jan 12, 2007
 D
Sherman, Brad
California · Jan 12, 2007
 D
Smith, Adam
Washington · Jan 12, 2007
 D
Thompson, Bennie G.
Mississippi · Jan 12, 2007
 D
Thompson, Mike
California · Jan 12, 2007
 D
Van Hollen, Chris
Maryland · Jan 12, 2007
 D
Velázquez, Nydia M.
New York · Jan 12, 2007
 D
Wasserman Schultz, Debbie
Florida · Jan 12, 2007
 D
Waters, Maxine
California · Jan 12, 2007
 D
Welch, Peter
Vermont · Jan 12, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5: College Student Relief Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-5/
MLA
"H.R. 5: College Student Relief Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-5/.
Bluebook (legal)
H.R. 5, 110th Cong. (2026), https://openamerica.io/bill/110-HR-5/.
Markdown link
[H.R. 5: College Student Relief Act of 2007](https://openamerica.io/bill/110-HR-5/)
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