S. 2815 (110th): Strengthening Student Aid for All Act

Introduced:
Apr 03, 2008 (110th Congress, 2007–2009)
Status:
Died (Referred to Committee)
Sponsor
Edward “Ted” Kennedy
Senator from Massachusetts
Party
Democrat
Text
Read Text »
Last Updated
Apr 03, 2008
Length
16 pages
Related Bills
H.R. 5715 (Related)
Ensuring Continued Access to Student Loans Act of 2008

Signed by the President
May 07, 2008

 
Status

This bill was introduced on April 3, 2008, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 03, 2008
Referred to Committee Apr 03, 2008
 
Full Title

A bill to amend the Higher Education Act of 1965 in order to increase unsubsidized Stafford loan limits for undergraduate students, provide for a secondary market for FFEL loans, allow for the in-school deferment of PLUS loans, augment the maximum Federal Pell Grant for the lowest income students, and expand the number of students eligible to obtain loans under the lender-of-last-resort program, and for other purposes.

Summary

No summaries available.

Cosponsors
5 cosponsors (4D, 1I) (show)
Committees

Senate Health, Education, Labor, and Pensions

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


4/3/2008--Introduced.
Strengthening Student Aid for All Act - Amends the Higher Education Act of 1965 to increase the maximum annual and aggregate unsubsidized Stafford loan amounts that may be provided to undergraduate students under the Federal Family Education Loan (FFEL) program.
Allows parents of dependent students to defer PLUS FFEL principal repayment until such students cease to be enrolled as undergraduates on at least a half-time basis.
Directs the Secretary of Education to act as the secondary market of last resort for FFELs, until July 2009, by purchasing such loans from lenders who cannot sell them in the private financial markets and thereby raise the capital needed to make new loans. Permits the Secretary to act in such capacity after such date if economic conditions threaten timely, uninterrupted access to student loans.
Changes title IV need analyses by allowing the calculation of a negative expected family contribution. Increases the Pell Grant available to students whose expected family contribution is a negative number.
Allows institutions of higher education (IHEs) to participate in the FFEL lender-of-last-resort program, thereby requiring guaranty agencies serving as lenders of last resort to make FFELs to students of such IHEs regardless of their ability to otherwise obtain such loans. Authorizes the Secretary to advance needed funds to guaranty agencies acting as lenders of last resort in such situations.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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