110 HR 6626 IH: To authorize the Secretary of the Navy to repay Federal U.S. House of Representatives 2008-07-29 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 2d Session H. R. 6626 IN THE HOUSE OF REPRESENTATIVES July 29, 2008 Mr. Shays (for himself and Mr. Courtney) introduced the following bill; which was referred to the Committee on Armed Services A BILL To authorize the Secretary of the Navy to repay Federal educational loans of officers of the United States Marine Corps who were commissioned on or after September 11, 2001.

1.

Authorization of Federal Educational Loan Payment

(a)

Authorization

The Secretary of the Navy is authorized to pay the outstanding balance on any Federal educational loan of an officer of the United States Marine Corps who was commissioned on or after September 11, 2001, and is not in default on such Federal educational loan. (b)

Exception

This section shall not apply to an officer who is a graduate of the United States Naval Academy. (c)

Rule of construction

Nothing in this section shall be construed to authorize the refunding of any repayment of a Federal educational loan. (d)

Definitions

In this section: (1)

Federal educational loan

The term Federal educational loan means a loan made, insured, or guaranteed under part B, D, or E of title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.), except that such term does not include a Federal consolidation loan under section 428C of such Act (20 U.S.C. 1078–3). (2)

Institution of higher education

The term institution of higher education has the meaning given it in section 101(a) of such Act (20 U.S.C. 1001(a)). (3)

Outstanding balance

The term outstanding balance means the principal and interest owed on a Federal educational loan, as determined by the Secretary of the Navy.