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HR 5055 111th Congress House

College Debt Swap Act of 2010

Official title: To provide funds for Pell Grants by amending title IV of the Higher Education Act of 1965.

Introduced: May 6, 2010 See on congress.gov
Education AppropriationsEducation programs fundingGovernment lending and loan guaranteesHigher educationStudent aid and college costs
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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
Apr 30, 2010
Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
Apr 15, 2010
Referred to the House Committee on Education and Labor.
Apr 15, 2010
Introduced in House
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 Latest action April 30, 2010

Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.

 Plain-English summary Congressional Research Service

College Debt Swap Act of 2010 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow certain borrowers to consolidate their private education loans as Direct Consolidation Loans.

Limits such borrowers to those who: (1) are not in default on a loan made, insured, or guaranteed under title IV, except in certain instances of economic hardship; (2) were enrolled, between July 1, 1994, and July 1, 2010, as students eligible for unsubsidized Stafford loans or PLUS loans under the Federal Family Education Loan or Direct Loan programs; (3) borrowed at least one private education loan during such enrollment period; (4) are repaying their private education loan or are in a grace period preceding such repayment; (5) do not have an adverse credit history; and (6) have not previously obtained a Direct Consolidated Loan under title IV.

Makes the program applicable only to private education loans disbursed to borrowers between July 1, 1994, and July 1, 2010.

Directs the Secretary of Education to inform and educate students and their families about this loan consolidation program.

Terminates the authority to make Consolidation loans under such program on June 30, 2012.

Authorizes and appropriates additional funds for Pell Grant increases for FY2011-FY2012.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2
D
Norton, Eleanor Holmes
District of Columbia · May 6, 2010
 D
Johnson, Henry C. "Hank"
Georgia · Apr 15, 2010
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5055: College Debt Swap Act of 2010. 111th Congress. Open America. https://openamerica.io/bill/111-HR-5055/
MLA
"H.R. 5055: College Debt Swap Act of 2010." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-5055/.
Bluebook (legal)
H.R. 5055, 111th Cong. (2026), https://openamerica.io/bill/111-HR-5055/.
Markdown link
[H.R. 5055: College Debt Swap Act of 2010](https://openamerica.io/bill/111-HR-5055/)
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