Amendment110th Congress
Manager's amendment made technical and conforming changes to the bill; stated that loan limit increases available under this Act are available only to students meeting the requirements of section 484(a) of the HEA; targeted the loan limit increases to those students and families in most need; in regard to school-wide lender-of-last-resort eligibility, specified that the Secretary of Education shall determine whether a school qualifies and provided criteria for the Secretary to consider in making the determination; specified that funds received by lenders from loan sales be used to originate new loans; clarified that the Secretary has the authority to enter into forward commitments to purchase new loans; and clarified that, at the discretion of the Secretary, a loan purchased by the Secretary may continue to be serviced by the current lender.
- Amendment Number
- 1004
- Description
- Manager's amendment made technical and conforming changes to the bill; stated that loan limit increases available under this Act are available only to students meeting the requirements of section 484(a) of the HEA; targeted the loan limit increases to those students and families in most need; in regard to school-wide lender-of-last-resort eligibility, specified that the Secretary of Education shall determine whether a school qualifies and provided criteria for the Secretary to consider in making the determination; specified that funds received by lenders from loan sales be used to originate new loans; clarified that the Secretary has the authority to enter into forward commitments to purchase new loans; and clarified that, at the discretion of the Secretary, a loan purchased by the Secretary may continue to be serviced by the current lender.
- Purpose
- An amendment numbered 1 printed in House Report 110-590 to make technical and conforming changes; state that loan limit increases available under this Act are available only to students meeting the requirements of section 484(a) of the HEA; target the loan limit increases to those students and families in most need; in regard to school-wide lender-of-last-resort eligibility, specifies that the Secretary of Education shall determine whether a school qualifies and provides criteria for the Secretary to consider in making the determination; specifies that funds received by lenders from loan sales be used to originate new loans; clarifiy that the Secretary has the authority to enter into forward commitments to purchase new loans; and clarifies that, at the discretion of the Secretary, a loan purchased by the Secretary may continue to be serviced by the current lender.
- Congress
- 110
- Type
- HAMDT
- Latest Action Date
- Apr 17, 2008
- Latest Action Text
- On agreeing to the Miller, George amendment (A001) Agreed to by recorded vote: 413 - 0 (Roll no. 203).
- Latest Action Time
- 13:45:46
- Submitted Date
- Apr 17, 2008
- Chamber
- House of Representatives
- Update Date
- Jul 11, 2021