110 HR 4344 IH: To amend section 435(o) of the Higher Education Act of U.S. House of Representatives 2007-12-11 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.

I 110th CONGRESS 1st Session H. R. 4344 IN THE HOUSE OF REPRESENTATIVES December 11, 2007 Mr. Walberg (for himself, Mr. McKeon, Mr. Ehlers, Mr. Kline of Minnesota, Mr. Boustany, Mr. Lucas, and Mr. Price of Georgia) introduced the following bill; which was referred to the Committee on Education and Labor A BILL To amend section 435(o) of the Higher Education Act of 1965 regarding the definition of economic hardship.

1.

Definition of economic hardship

Section 435(o) of the Higher Education Act of 1965 (20 U.S.C. 1085(o)) is amended— (1)in paragraph (1)— (A)in subparagraph (A)(ii), by striking or after the semicolon; (B)by redesignating subparagraph (B) as subparagraph (C); and (C)by inserting after subparagraph (A) the following: (B)such borrower is working full-time and has a Federal educational debt burden that equals or exceeds 20 percent of such borrower’s adjusted gross income, and the difference between such borrower’s adjusted gross income minus such burden is less than 220 percent of the greater of— (i)the annual earnings of an individual earning the minimum wage under section 6 of the Fair Labor Standards Act of 1938; or (ii)150 percent of the poverty line, as defined under section 673(2) of the Community Services Block Grant Act, applicable to such borrower's family size; or ; and (2)in paragraph (2), by striking (1)(B) and inserting (1)(C).