In the Senate of the United States,
October 3, 2001.
Resolved, That the bill from the House of Representa-
tives (H.R. 768) entitled ‘‘An Act to amend the Improving
America’s Schools Act of 1994 to make permanent the favor-
able treatment of need-based educational aid under the anti-
trust laws.’’, do pass with the following
AMENDMENTS:
Strike out all after the enacting clause and insert:
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Need-Based Educational
Aid Act of 2001’’.
HR 768 EAS
SEC. 2. AMENDMENT.
Section 568(d) of the Improving America’s Schools Act
of 1994 (15 U.S.C. 1 note) is amended by striking ‘‘2001’’
and inserting ‘‘2008’’.
SEC. 3. GAO STUDY AND REPORT.
(a) STUDY.—
(1) IN GENERAL.—The Comptroller General shall
conduct a study of the effect of the antitrust exemp-
tion on institutional student aid under section 568 of
the Improving America’s Schools Act of 1994 (15
U.S.C. 1 note).
(2) CONSULTATION.—The Comptroller General
shall have final authority to determine the content of
the study under paragraph (1), but in determining
the content of the study, the Comptroller General shall
consult with—
(A) the institutions of higher education par-
ticipating under the antitrust exemption under
section 568 of the Improving America’s Schools
Act of 1994 (15 U.S.C. 1 note) (referred to in
this Act as the ‘‘participating institutions’’);
(B) the Antitrust Division of the Depart-
ment of Justice; and
(C) other persons that the Comptroller Gen-
eral determines are appropriate.
(3) MATTERS STUDIED.—
HR 768 EAS
(A) IN GENERAL.—The study under para-
graph (1) shall—
(i) examine the needs analysis meth-
odologies used by participating institutions;
(ii) identify trends in undergraduate
costs of attendance and institutional under-
graduate grant aid among participating in-
stitutions, including—
(I) the percentage of first-year
students receiving institutional grant
aid;
(II) the mean and median grant
eligibility and institutional grant aid
to first-year students; and
(III) the mean and median pa-
rental and student contributions to un-
dergraduate costs of attendance for
first year students receiving institu-
tional grant aid;
(iii) to the extent useful in determining
the effect of the antitrust exemption under
section 568 of the Improving America’s
Schools Act of 1994 (15 U.S.C. 1 note),
examine—
HR 768 EAS
(I) comparison data, identified in
clauses (i) and (ii), from institutions
of higher education that do not partici-
pate under the antitrust exemption
under section 568 of the Improving
America’s Schools Act of 1994 (15
U.S.C. 1 note); and
(II) other baseline trend data
from national benchmarks; and
(iv) examine any other issues that the
Comptroller General determines are appro-
priate, including other types of aid affected
by section 568 of the Improving America’s
Schools Act of 1994 (15 U.S.C. 1 note).
(B) ASSESSMENT.—
(i) IN
GENERAL.—The study under
paragraph (1) shall assess what effect the
antitrust exemption on institutional student
aid has had on institutional undergraduate
grant aid and parental contribution to un-
dergraduate costs of attendance.
(ii) CHANGES OVER TIME.—The assess-
ment under clause (i) shall consider any
changes 
in 
institutional 
undergraduate
grant aid and parental contribution to un-
HR 768 EAS
SEC. 4. EFFECTIVE DATE.
This Act and the amendments made by this Act shall
take effect on September 30, 2001.
Amend the title so as to read: ‘‘An Act to amend the
Improving America’s Schools Act of 1994 to extend the
favorable treatment of need-based educational aid under
the antitrust laws, and for other purposes.’’.
Attest:
Secretary.