II 110th CONGRESS 1st Session S. 2303 IN THE SENATE OF THE UNITED STATES November 2, 2007 Mr. Burr (for himself and Mr. Isakson) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions 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).