Authorizes such waiver or modification of requirements in order to provide relief from certain financial and administrative burdens to affected individuals who: (1) are serving on active duty during the emergency; (2) reside or are employed in a disaster area declared by any Federal, State, or local official in connection with the emergency; or (3) suffered direct economic hardship as a direct result of the emergency, as determined under a waiver or modification issued under this Act. Authorizes waiver or modification of certain reporting requirements for institutions of higher education, lenders, guarantee agencies, and other entities participating in such programs, if such entities are located in declared disaster areas connected to the emergency.
Expresses the sense of Congress that institutions offering postsecondary education should provide refunds and waivers of certain requirements to students who are members of the Armed Forces serving on active duty during the national emergency.