3.0.0 1262 2023-01-11T16:32:44Z 2023-01-11T16:32:44Z Senate S S 2007-05-02 110 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2007-05-02T14:55:19Z 2007-05-02 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S5500-5502) IntroReferral 2007-05-02 Sponsor introductory remarks on measure. (CR S5499-5500) IntroReferral B00100 9 Library of Congress 2007-05-02 Introduced in Senate IntroReferral 10000 9 Library of Congress E000285 Sen. Enzi, Michael B. [R-WY] MICHAEL ENZI R WY B. N A000360 Sen. Alexander, Lamar [R-TN] Lamar Alexander R TN 2007-05-02 True A000109 Sen. Allard, Wayne [R-CO] A. ALLARD R CO WAYNE 2007-05-02 True B001135 Sen. Burr, Richard [R-NC] Richard Burr R NC Mauze 2007-05-02 True I000055 Sen. Isakson, Johnny [R-GA] Johnny Isakson R GA 2007-05-02 True M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2007-05-02 True R000307 Sen. Roberts, Pat [R-KS] PAT ROBERTS R KS 2007-05-02 True H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT 2007-05-10 False Education Civil Rights and Liberties, Minority Issues Collection of accounts College administration College costs Colleges Commerce Conflict of interests Congressional reporting requirements Consultants Consumer education Discrimination in consumer credit Economics and Public Finance Educational technology Equipment and supplies Ethics Federal aid to education Fees Finance and Financial Sector Fines (Penalties) Gifts Government Operations and Politics Government paperwork Governmental investigations Higher education Information technology Interest rates Law Loan defaults School personnel Science, Technology, Communications Securities Stocks Student aid Student loan funds Students' rights Transportation and Public Works Travel costs Trusts and trustees Web sites Education 00 2007-05-02 Introduced in Senate 2007-06-25T19:28:57Z Student Loan Accountability and Disclosure Reform Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (the Act) to expand prohibitions on guaranty agencies operating under the Federal Family Education Loan (FFEL) program by prohibiting their offering specified inducements to institutions of higher education (IHE) or lenders to secure business or providing certain services for such institutions without appropriate compensation.

Requires lenders to provide student loan applicants with certain written information regarding: (1) loan conditions; (2) their possible qualification for title IV assistance; (3) the method for determining the applicable interest rate; and (4) whether the loans provided exceed a student's attendance costs.

Directs the Secretary of Education and the Secretary of the Treasury to review the private educational loan market to identify possible discriminatory lending practices affecting students who qualify for a simplified needs test or application process.

Expands the activities disqualifying lenders from participation in the FFEL program, including: (1) offering specified inducements to IHEs; (2) performing certain uncompensated services for IHEs; and (3) entering into certain business arrangements with students or school financial aid employees.

Establishes a private loan exception to the prohibition IHE certification of a student's eligibility to borrow amounts in excess of those allowable under the FFEL program.

Requires limitation, suspension, or termination of an IHE's participation in title IV loan programs for noncompliance with a student loan code of conduct prohibiting IHEs or their financial aid employees from accepting certain inducements from, or entering into certain business arrangements with, lenders.

Bans IHEs from designating preferred lenders; but allows lenders to submit a standard electronic template to IHEs regarding loan conditions which will then be made available to students and their parents.

Terminates the authority of a school to serve as a lender or a lender to serve as a school trustee under the FFEL program.

]]> Student Loan Accountability and Disclosure Reform Act Display Title Student Loan Accountability and Disclosure Reform Act Official Title as Introduced A bill to protect students receiving student loans, and for other purposes. Introduced in Senate IS Short Titles as Introduced Student Loan Accountability and Disclosure Reform Act Introduced in Senate 2007-05-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1262is/xml/BILLS-110s1262is.xml 2007-05-02 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S5500-5502) 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.