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S 572 110th Congress Senate

Student Aid Reward Act of 2007

Official title: A bill to ensure that Federal student loans are delivered as efficiently as possible in order to provide more grant aid to students.

Introduced: February 13, 2007 See on congress.gov
Education College administrationCost controlCost effectivenessEconomics and Public Finance
More subjectsShow fewer subjects
Education of the disadvantagedFederal aid to educationFederally-guaranteed loansFinance and Financial SectorGovernment lendingGraduate educationHigher educationScholarshipsSocial WelfareStudent loan funds
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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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 13, 2007
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S1915)
Feb 13, 2007
Sponsor introductory remarks on measure. (CR S1914-1915)
Feb 13, 2007
Introduced in Senate
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 Latest action February 13, 2007

Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S1915)

 Plain-English summary Congressional Research Service

Student Aid Reward Act of 2007 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Secretary of Education to carry out a Student Aid Reward (SAR) Program of payments to encourage institutions of higher education (IHEs) to participate in the student loan program under title IV that is most cost-effective for taxpayers.

Requires that a SAR payment to an IHE equal at least 50% of the savings to the federal government generated by the IHE's participation in the most cost-effective student loan program, rather than one not cost-effective for taxpayers.

Requires IHEs receiving SAR payments to: (1) provide student loans under that most cost-effective program for five years after the payment date; and (2) use payment funds, where appropriate, to supplement student Pell Grants. Allows such funds to be used also to award need-based grants to lower and middle income graduate students.

 Related & companion bills 1
  • HR 1010 Identical bill Student Aid Reward Act of 2007
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · Feb 13, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 572: Student Aid Reward Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-572/
MLA
"S. 572: Student Aid Reward Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-572/.
Bluebook (legal)
S. 572, 110th Cong. (2026), https://openamerica.io/bill/110-S-572/.
Markdown link
[S. 572: Student Aid Reward Act of 2007](https://openamerica.io/bill/110-S-572/)
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