H.R.1617 - To allow borrowers consolidating student loans to choose a variable or fixed interest rate, and for other purposes.109th Congress (2005-2006)
|Sponsor:||Rep. Petri, Thomas E. [R-WI-6] (Introduced 04/13/2005)|
|Committees:||House - Education and the Workforce|
|Latest Action:||House - 04/29/2005 Referred to the Subcommittee on 21st Century Competitiveness. (All Actions)|
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Summary: H.R.1617 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in House (04/13/2005)
Amends the Higher Education Act of 1965 (HEA) to allow borrowers consolidating student loans to choose: (1) a variable or fixed interest rate; and (2) the loan consolidator.
Provides for the Federal Government's recapture of excess interest charged by lenders, under HEA provisions for special allowances for lenders of student loans.