Amends the College Scholarship Fraud Prevention Act of 2000 to: (1) direct the United States Sentencing Commission to amend the Federal sentencing guidelines to provide for enhanced penalties for any offense involving fraud or misrepresentation in connection with obtaining or furnishing information to a consumer on (as under current law), or offering assistance in obtaining, financial assistance toward an education at an institution of higher education, such that those penalties are comparable to those provided for an offense involving fraud or misrepresentation (currently, comparable to the base offense level for misrepresentation) that the defendant was acting on behalf of a charitable, educational, religious, or political organization, or a government agency; and (2) expand the debts that are excluded from permissible exemptions of property from estates in bankruptcy to include a debt in connection with misrepresentation in providing, offering assistance in obtaining, or furnishing information to a consumer on, such financial assistance.