Amendment101st Congress
Amendment sought to make changes to the Federal student loan guarantee program. It would have changed the method of "needs analysis" used to determine eligibility for Federal student financial aid; changed accreditation standards for certain institutions including proprietary schools; and required an independent audit of graduation and placement statistics and tuition refunds when a school misrepresented its education program.
- Amendment Number
- 591
- Description
- Amendment sought to make changes to the Federal student loan guarantee program. It would have changed the method of "needs analysis" used to determine eligibility for Federal student financial aid; changed accreditation standards for certain institutions including proprietary schools; and required an independent audit of graduation and placement statistics and tuition refunds when a school misrepresented its education program.
- Purpose
- An amendment to address the student loan default situation by changes in current policy, including requiring a reduced federal guarantee to lenders when their student loan portfolios are heavily weighted toward high default rate schools, and toughening accreditation requirements for schools with career training courses (including requiring these schools to be accredited by independent accrediting agencies and requiring their claims regarding placement and graduation rates to be audited). The amendment also requires borrowers to report additional information to facilitate their location when default occurs, clarifies procedures for reporting defaults to credit bureaus, prohibits the sale of student lists, and establishes a toll-free hotline to enable students to report fraud and abuse by institutions.
- Congress
- 101
- Type
- HAMDT
- Latest Action Date
- Jul 20, 1990
- Latest Action Text
- On agreeing to the Roukema amendment (A003) Failed by recorded vote: 122 - 264 (Roll no. 254).
- Latest Action Time
- 12:46:54
- Submitted Date
- Jul 20, 1990
- Chamber
- House of Representatives
- Update Date
- Jul 1, 2021