3.0.0 1994 2023-01-11T19:43:18Z 2023-01-11T19:43:18Z House H HR 2007-04-23 110 hsed00 Education and the Workforce Committee House Standing hsed13 Higher Education and Workforce Development Subcomittee Referred to 2007-07-09T15:31:24Z Referred to 2007-04-23T16:32:10Z hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2007-06-07T20:03:02Z Referred to 2007-04-23T16:32:15Z 2007-07-09 hsed13 Higher Education and Workforce Development Subcomittee 1 House committee actions Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness. Committee 2007-06-07 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2007-04-23 Referred to the Committee on Education and Labor, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-04-23 Referred to the Committee on Education and Labor, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2007-04-23 Referred to the Committee on Education and Labor, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2007-04-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-04-23 Introduced in House IntroReferral 1000 9 Library of Congress M000508 Rep. McKeon, Howard P. "Buck" [R-CA-25] HOWARD MCKEON R CA P. 25 N K000361 Rep. Keller, Ric [R-FL-8] RIC KELLER R FL 8 2007-04-23 True Education Collection of accounts College administration College costs Commerce Conflict of interests Consumer credit Consumer education Contracts Debtor and creditor Economics and Public Finance Federal aid to education Federally-guaranteed loans Fees Finance and Financial Sector Fines (Penalties) Gifts Government Operations and Politics Government lending Government paperwork Government publicity Higher education Interest rates Law Scholarships School personnel Student aid Student loan funds Trusts and trustees Education 00 2007-04-23 Introduced in House 2007-05-25T19:48:39Z Financial Aid Accountability and Transparency Act of 2007 - Amends the Higher Education Act of 1965 to prohibit an institution of higher education (IHE) from recommending student loan providers unless it has a formal written recommendation policy, publicizes such policy, and recommends a minimum of three unaffiliated lenders. Requires IHEs to disclose to students: (1) that they cannot limit students to recommended lenders and must process the loan documents of any eligible lender; (2) the maximum federal grant and loan aid available; and (3) the cost of attendance.

Directs the Secretary of Education to develop and prescribe an easy-to-read model disclosure form for use by IHEs and lenders in providing relevant and specified minimum information to students concerning the terms of federal and private student loans.

Requires IHEs to develop, publicize, and enforce codes of conduct for their employees, trustees, and directors prohibiting the acceptance of certain financial benefits or fees from student loan providers or guarantors. Bans IHEs from: (1) entering into educational loan arrangements that involve lender payments for recommended lender status; or (2) requesting or accepting lender assistance with call center or financial aid office staffing.

Amends the Truth in Lending Act to require private educational loan providers to inform consumers, before such loans are executed, that they may qualify for federal educational assistance, that federal student loans may have more beneficial terms than private loans, and that they may obtain additional information concerning such assistance from the Department of Education's website.

]]> Financial Aid Accountability and Transparency Act of 2007 Official Title as Introduced To provide more transparency in the financial aid process and to ensure that students are receiving the best information about financial aid opportunities. Introduced in House IH Display Title Financial Aid Accountability and Transparency Act of 2007 Short Titles as Introduced Financial Aid Accountability and Transparency Act of 2007 Introduced in House 2007-04-23T04:00:00Z 2007-07-09 Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness. 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.