H.R. 2454 (101^st): College Opportunity Act of 1989

5/23/1989--Introduced.

College Opportunity Act of 1989 - Amends the Higher Education Act of 1965 to establish programs for additional financial aid and counseling for low-income students. Authorizes the Secretary of Education to establish programs to: (1) guarantee to low-income students with a high school diploma or equivalent the financial assistance necessary to permit them to attend an institution of higher education; and (2) provide incentives to States and local educational agencies to provide additional counseling to students and parents about college financing options, and elementary and secondary school students at risk of dropping out. Requires that grants to students under this Act be used to: (1) replace all or part of the amount a student would otherwise be required to borrow in guaranteed or direct student loans; and (2) reduce the expected family contribution of qualified low-income students. Requires States to demonstrate increased spending on counseling for at-risk students and an improved student-to-counselor ratio, in order to qualify for counseling program payments. Conditions assistance under this Act on a family adjusted gross income of less than $26,000 (but subtracts from the grant amount one-half of the amount by which such income exceeds $18,000).