HR 7072 · 110th Congress 2007–2009, ended

To make technical corrections in the Ensuring Continued Access to Student Loans Act of 2008.

Introduced Sep 25, 2008 Originated House Sponsor Howard P. "Buck" McKeon R-CA

Fact sheet Spreadsheet

Latest action · Sep 25, 2008 Referred to the House Committee on Education and Labor.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedSep 25, 2008
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Amends the Higher Education Act of 1965 to make technical corrections to the Ensuring Continued Access to Student Loans Act of 2008.

Clarifies the Secretary of Education's authority to purchase, or enter into and fund forward commitments to purchase, until July 2010, Federal Family Education Loans (FFELs) from lenders when there is an inadequate availability of loan capital to meet the demand for such loans. Includes, within such purchase authority, FFELs that qualify for loan rehabilitation under the Default Reduction program.

Conditions the Secretary's purchase or forward commitment to purchase FFELs on lender agreement to originate or purchase new FFELs. (Currently, they are required to use the funds from such purchases to engage in such activities.)

Requires the Secretary to contract with the current servicers of FFELs the Secretary is purchasing for the continued servicing of such loans, provided certain conditions are met. (Currently, the Secretary is authorized to enter into servicing agreements with willing lenders whose loans are being purchased.)

Cosponsors 11

Members who signed on, in the order they did. All signed on Sep 25, 2008.

SeatCosponsorSigned on
R-LACharles W. Boustany, Jr.OriginalSep 25, 2008
R-TNDavid DavisOriginalSep 25, 2008
R-SCJoe WilsonOriginalSep 25, 2008
R-MNJohn KlineOriginalSep 25, 2008
R-ILJudy BiggertOriginalSep 25, 2008
R-TXKenny MarchantOriginalSep 25, 2008
R-PRLuis G. FortunoOriginalSep 25, 2008
R-MIPeter HoekstraOriginalSep 25, 2008
R-FLRic KellerOriginalSep 25, 2008
R-UTRob BishopOriginalSep 25, 2008
R-PATodd Russell PlattsOriginalSep 25, 2008

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseEducation and Workforce Committee
Referred Sep 25, 2008

Actions 2

Everything that happened, newest first.

  1. Sep 25, 2008Introduced in House
  2. Sep 25, 2008Referred to the House Committee on Education and Labor.

Titles 1

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To make technical corrections in the Ensuring Continued Access to Student Loans Act of 2008.

Subjects

Assigned by the Library of Congress. Policy area: Education.

Text 1

Each version as it was printed, newest first.

  1. Sep 25, 2008Introduced in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.