These efforts ended earlier this month with the enactment of Public Law 105-244, the 1998 Higher Education Amendments. This high percentage is evidence that ATLE and TG were in tune with the primary, major issues of concern during this reauthorization. Sections cited are bill sections. Develop a method to simplify the interest rates currently charged to federal student loan borrowers under Sections 427A and 455. Presently, there are 11 categories of student loan borrowers repaying their loans at different interest rates.
Borrowers can also have multiple loans with multiple rates.
Borrowers with existing loans should have the opportunity to consolidate their loans into a single loan with one interest rate. Borrowers should be required to repay their loans in full, unless they die or become disabled. The school must make the additional information available upon request. Explore the feasibility of using an electronic signature on student loan application, promissory note, deferment, forbearance and any other required forms in order to further facilitate the movement to an electronic environment. Return to Contents Financing Issues Programs to reduce the reliance on loan aid should be enacted.