H.R. 3624 (112th): Student Loan Default Prevention Act

Introduced:
Dec 08, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Michael Michaud
Representative for Maine's 2nd congressional district
Party
Democrat
Text
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Last Updated
Dec 08, 2011
Length
5 pages
Related Bills
H.R. 618 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Feb 12, 2013

 
Status

This bill was introduced on December 8, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 08, 2011
Referred to Committee Dec 08, 2011
 
Full Title

To authorize the Secretary of Education to enter into voluntary, flexible agreements with certain guaranty agencies to provide delinquency prevention and default aversion services for borrowers and potential borrowers of Federal Direct Loans under the Higher Education Act of 1965, and for other purposes.

Summary

No summaries available.

Cosponsors
7 cosponsors (7D) (show)
Committees

House Education and the Workforce

Higher Education and Workforce Training

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

H.R. stands for House of Representatives 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.


12/8/2011--Introduced.
Student Loan Default Prevention Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Secretary of Education, upon the request of an eligible guaranty agency, to enter into or revise a voluntary, flexible agreement with that agency to provide services to borrowers and potential borrowers of Federal Family Education Loans (FFELs) or Direct Loans (DLs).
Treats guaranty agencies as eligible to participate in such agreements if they have extensive and relevant experience and demonstrated effectiveness in providing such services.
Authorizes those guaranty agencies to provide services that include: (1) delinquency prevention and default aversion activities, (2) collecting defaulted loans, (3) monitoring institutions that participate in the DL program, (4) training financial aid officials, and (5) informational outreach to schools and students that supports access to higher education and financial literacy.
Requires the Secretary to pay fees to such agencies that are cost neutral and take into account the savings projected from the provision of such services.

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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