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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

College Debt Swap Act of 2010

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To provide funds for Pell Grants by amending title IV of the Higher Education Act of 1965.

Actions Overview (1)

Date Actions Overview
04/15/2010Introduced in House

All Actions (3)

Date All Actions
04/30/2010Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
Action By: Committee on Education and Labor
04/15/2010Referred to the House Committee on Education and Labor.
Action By: House of Representatives
04/15/2010Introduced in House
Action By: House of Representatives

Cosponsors (4)

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Education and Labor04/15/2010 Referred to
House Education and Labor Subcommittee on Higher Education, Lifelong Learning, and Competitiveness04/30/2010 Referred to

No related bill information was received for H.R.5055.

Subjects (6)

Latest Summary (1)

There is one summary for H.R.5055. View summaries

Shown Here:
Introduced in House (04/15/2010)

College Debt Swap Act of 2010 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow certain borrowers to consolidate their private education loans as Direct Consolidation Loans.

Limits such borrowers to those who: (1) are not in default on a loan made, insured, or guaranteed under title IV, except in certain instances of economic hardship; (2) were enrolled, between July 1, 1994, and July 1, 2010, as students eligible for unsubsidized Stafford loans or PLUS loans under the Federal Family Education Loan or Direct Loan programs; (3) borrowed at least one private education loan during such enrollment period; (4) are repaying their private education loan or are in a grace period preceding such repayment; (5) do not have an adverse credit history; and (6) have not previously obtained a Direct Consolidated Loan under title IV.

Makes the program applicable only to private education loans disbursed to borrowers between July 1, 1994, and July 1, 2010.

Directs the Secretary of Education to inform and educate students and their families about this loan consolidation program.

Terminates the authority to make Consolidation loans under such program on June 30, 2012.

Authorizes and appropriates additional funds for Pell Grant increases for FY2011-FY2012.