To allow borrowers consolidating student loans to choose a variable or fixed interest rate, and for other purposes.

Fact Sheet API

Bill Number

HR 1617

Introduced

Apr 13, 2005

Latest Action

Referred to the Subcommittee on 21st Century Competitiveness.

Sponsor

Cosponsors

Topics

Collection of accounts Debtor and creditor Economics and Public Finance Education Federally-guaranteed loans Finance and Financial Sector Government lending Higher education Interest Interest rates Student loan funds

Full Text

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Votes

Summary

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.

Actions

Apr 29, 2005

Referred to the Subcommittee on 21st Century Competitiveness.
Apr 13, 2005

Referred to the House Committee on Education and the Workforce.
Apr 13, 2005

Introduced in House

Amendments

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