HR 3371
113th Congress
House
Education
Consumer affairs
Government lending and loan guarantees
Higher education
Student aid and college costs
State Loan Access and Student Protection Act
Introduced: October 29, 2013
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 22, 2014
Referred to the Subcommittee on Higher Education and Workforce Training.
Oct 29, 2013
Referred to the House Committee on Education and the Workforce.
Oct 29, 2013
Introduced in House
Plain-English summary
State Loan Access and Student Protection Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to exempt certain state education loans from the requirement that when an institution of higher education (IHE) recommends, promotes, or endorses such loans, there need to be at least two unaffiliated lenders of those loans on the school's preferred lender list.
Conditions that exemption on the IHE:
- only recommending, promoting, or endorsing such loans by providing students and families with information about the loans and providing financial aid packages that include such loans to students who have previously been awarded such loans;
- using a form, to be developed by the Secretary of Education, to disclose the terms and conditions of such loans to borrowers and compare them to the terms and conditions of Direct loans under part D (William D. Ford Federal Direct Loan Program) of title IV;
- placing such loans on their preferred list only if the loans' terms and conditions are at least as favorable as the terms and conditions on Direct loans; and
- prominently disclosing to borrowers the methods and criteria it used in deciding to recommend, promote, or endorse such loans.
What's happening now
Referred to the Subcommittee on Higher Education and Workforce Training.
Committees of jurisdiction
2