3.0.0 2243 2023-01-13T04:49:06Z 2023-01-13T04:49:06Z Senate S S 2006-02-02 109 ssfi00 Finance Committee Senate Standing Referred to 2006-02-03T01:02:24Z College Access and Affordability Act 109 2815 HR 2005-07-11 Referred to the Subcommittee on 21st Century Competitiveness. Related bill CRS 2006-02-02 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2006-02-02 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2006-03-02 False L000304 Sen. Lieberman, Joseph I. [D-CT] JOSEPH LIEBERMAN D CT I. 2006-06-08 False Education Access to health care Bilingualism Child welfare College costs Community colleges Cost of living adjustments Crime and Law Enforcement Depressed areas Disabled Economics and Public Finance Education of the disadvantaged Educational counseling Elementary and secondary education Elementary education Emergency Management Emergency medicine Families Federal aid to education Finance and Financial Sector Fire fighters Government lending Health Higher education Income tax Indexing (Economic policy) Interest rates Law enforcement officers Mathematics Medical personnel Mentoring Minorities Nurses Nursing education Paramedical personnel Police Poverty Scholarships Science, Technology, Communications Scientific education Secondary education Social Welfare Social work Special education Student loan funds Tax credits Taxation Teacher education Teachers Tuition tax credits Education 00 2006-02-02 Introduced in Senate 2006-03-13T16:35:38Z College Access and Affordability Act - Amends the Internal Revenue Code to: (1) rename "qualified tuition and related expenses" as "qualified higher education expenses" for purposes of the Hope Scholarship and Lifetime Learning tax credits and to include as qualified expenses tuition, fees, books, supplies, and equipment required by the taxpayer, the taxpayer's spouse, or dependents for enrollment or attendance at an eligible institution of higher learning; (2) increase to $4,000 (with annual inflation adjustments after 2006) the dollar limitation on the Hope Scholarship tax credit; (3) increase to $58,000 the modified adjusted gross income threshold for reducing the allowable amount of Hope Scholarship and Lifetime Learning tax credits; and (4) increase from two to four the number of years a Hope Scholarship tax credit may be claimed.

Amends the Higher Education Act of 1965 to: (1) grant forgiveness of student loan indebtedness up to $17,500 for individuals working in certain public service positions, including math and science teachers, emergency workers, and nurses in low-income communities; (2) require the Secretary of Education (formerly, discretionary on a case-by-case basis) to award Pell Grants to certain full-time students enrolled in college degree programs; (3) establish a special transition assistance plan for certain student loan borrowers; (4) establish a grant program to encourage transfers of academic credits between institutions of higher learning; and (5) expand the discretionary authority of student financial aid administrators in regulating student loan terms.

]]> College Access and Affordability Act Display Title College Access and Affordability Act Official Title as Introduced A bill to make college more affordable by expanding and enhancing financial aid options for students and their families and providing loan forgiveness opportunities for public service employees, and for other purposes. Introduced in Senate IS Short Titles as Introduced College Access and Affordability Act Introduced in Senate 2006-02-02T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s2243is/xml/BILLS-109s2243is.xml 2006-02-02 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.