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

Titles (1)

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

A bill to extend and amend part B of title IV of the Higher Education Act of 1965.

Actions Overview (3)

Date Actions Overview
08/25/1976Passed/agreed to in House: Measure passed House, amended, roll call #656 (391-3).
06/08/1976Reported to House from the Committee on Education and Labor with amendment, H. Rept. 94-1232.
05/27/1976Introduced in House

All Actions (9)

Date Chamber All Actions
08/31/1976HouseProvisions inserted in S. 2657 as passed House.
08/26/1976SenateReferred to Senate Committee on Labor and Public Welfare.
08/25/1976HouseMeasure passed House, amended, roll call #656 (391-3).
08/25/1976HouseMeasure considered in House.
08/24/1976HouseMeasure considered in House.
08/24/1976HouseMeasure called up by special rule in House.
06/08/1976HouseReported to House from the Committee on Education and Labor with amendment, H. Rept. 94-1232.
05/27/1976HouseReferred to House Committee on Education and Labor.
05/27/1976HouseIntroduced in House

Cosponsors (14)

Committees (2)

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 Labor05/27/1976 Referred to
06/08/1976 Reported by H.Rept 94-1232
Senate Labor and Public Welfare08/26/1976 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.

Subjects (10)

Latest Summary (2)

There are 2 summaries for H.R.14070. View summaries

Shown Here:
Passed House amended (08/25/1976)

(Measure passed House, amended, roll call #656 (391-3))

Guaranteed Student Loan Amendments - Requires the Commissioner of Education to develop and carry out a plan to encourage States to establish a State guarantee agency for guaranteed student loans, under the Higher Education Act of 1965.

Provides that, within 90 days after the enactment of this Act, the Commissioner is required to submit to the Congress a description of the plan he has developed and a timetable for its execution.

Requires that before June 30, 1977, the Commissioner must submit to Congress a report which describes the activities which have been carried out under the plan.

Directs the Commissioner to make advances to each State and private nonprofit agency with which he has a guarantee agreement to be used by them for making payments under their insurance programs. Sets the advanced amount at $50,000 or ten percent of the principal of the guaranteed loans whose repayment period began during the preceding fiscal year.

Provides that if a State has no student loan insurance program and consultations with the Governor show there is no likelihood of the State's adoptingg such a program, the Commissioner may make advances to a private nonprofit institution or organization.

Extends the guaranteed student loan program through fiscal year 1980, and sets the aggregate limit on new loans at $2,000,000,000.

Sets the student loan limits at $2,500 for undergraduates and $5,000 for graduate or professional students.

Provides that the insurance liability on any loan insured by the Commissioner under this Act is 100 percent of the unpaid balance of the loan. Reduces the insurance liability to 90 percent where payments made because of loan defaults exceed five percent of the sum of the loans made by a lender. Reduces the insurance liability to 80 percent where the payments to a lender exceed nine percent of such loans.

Requires the student borrower to keep the holder of his loan informed of his current address.

Provides that the repayment period may be suspended during a single period of unemployment if both lender and borrower agree, but only for a period of one year or less.

Requires the borrower to contact the holder of his loan within four months after leaving school so as to negotiate the terms for repayment.

Increases from $15,000 to $25,000, the family income figure below which interest payemnts may be made for the borrower.

Extends until October 1, 1980, the period during which loans may be made to qualify for the interest subsidy. Provides that the period applicable with respect to loans to enable a student to continue his education after receiving a prior loan is extended to October 1, 1984.

Increases from 80 to 100 percent, the amount which the Commissioner will reimburse States for their expenditures in paying off their insurance obligations under guarantee agreements. Decreases such percentage to 90 percent when a State's default rate reaches seven percent for the year, and 80 percent when a States's default rate reaches nine percent per year.

Permits the use of private collection agencies in cases of default. Requires the Commissioner to approve standards for the recovery of loans by such agencies, and requires standards to be fair and reasonable.

Provides that a State or a State agency may not be a lender unless it agrees not to make loans to more than one-half of the students at any educational institution who are not graduate or professional students.

Provides that the payment of the special allowance shall be automatic and at specified rates when interest rates on insured student loans are so low as to impede the carrying out of the insured student loan program, under the Emergency Insured Student Loan Act.

Repeals such Act effective October 1, 1977.

Prohibits the discharge through bankruptcy of student loan debts for a period of five years after the beginning of the repayment period.