HR 5715 PCS 
‘‘(c) MAINTAINING SERVICING ARRANGEMENTS.— 
The Secretary may, if agreed upon by an eligible lender 
selling loans under this section, contract with such lender 
for the servicing of the loans purchased, provided that— 
‘‘(1) the cost of such servicing arrangement 
does not exceed the cost the Federal Government 
would otherwise incur for the servicing of loans pur-
chased, as determined under subsection (a); and 
‘‘(2) such servicing arrangement is in the best 
interest of the borrowers whose loans are purchased. 
‘‘(d) EXPIRATION OF AUTHORITY.—The Secretary’s 
authority to purchase loans under this section shall expire 
on July 1, 2009.’’. 
(c) CONTRACTING AUTHORITY.—Section 456(b) of 
the Higher Education Act of 1965 (20 U.S.C. 1087f(b)) 
is amended by inserting ‘‘or purchased’’ after ‘‘loans 
made’’ each place it appears in paragraphs (2) and (3). 
SEC. 8. SENSE OF CONGRESS. 
It is a sense of Congress that, at a time when our 
economy is fragile and higher education and retraining op-
portunities are more important than ever— 
(1) the Federal financial institutions, such as 
the Federal Financing Bank and Federal Reserve, 
and federally chartered private entities such as the 
Federal Home Loan Banks and others, should con-
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HR 5715 PCS 
sider, in consultation with the Secretary of Treasury 
and the Secretary of Education, using available au-
thorities in a timely manner, if needed, to assist in 
ensuring that students and families can access Fed-
eral student loans for academic year 2008–2009, 
and if needed in the subsequent academic year, in a 
manner that results in no increased costs to tax-
payers; and 
(2) any action taken as a result of such consid-
eration should in no way limit or delay the Secretary 
of Education’s authority to operate the lender-of- 
last-resort provisions of section 428(j) of the Higher 
Education Act of 1965 (as amended by this Act), 
nor the authority to purchase Federal Family Edu-
cation Loan Program loans, as authorized by section 
459A of such Act (as added by this Act). 
SEC. 9. GAO STUDY ON IMPACT OF INCREASED LOAN LIM-
ITS. 
(a) STUDY REQUIRED.—The Comptroller General 
shall conduct a study to evaluate the impact of the in-
crease in Federal loan limits provided for in section 2 of 
this Act and section 8005 of the Deficit Reduction Act 
of 2005 with respect to the impact on— 
(1) tuition, fees, and room and board at institu-
tions of higher education; and 
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HR 5715 PCS 
(2) private loan borrowing by students and par-
ents for attendance at institutions of higher edu-
cation. 
(b) STUDY COMPONENTS.—The study required under 
subsection (a) shall be conducted for each major sector 
of institutions of higher education over a 5-year time pe-
riod. The report shall specifically analyze the following: 
(1) Whether, on average, tuition, fees, and 
room and board increase, decrease, or remain un-
changed in each such sector after the increases in 
Federal loan limits take effect. 
(2) Whether the amount of private educational 
loans taken out by students (and their parents) at 
institutions in each such sector to pay tuition, fees, 
and room and board increase, decrease, or remain 
unchanged. 
(c) REPORT.—Not later than one year after the date 
of enactment of this Act, the Comptroller General shall 
provide an interim report to the Committee on Education 
and Labor of the House of Representatives and the Com-
mittee on Health, Education, Labor, and Pensions of the 
Senate including the initial results of the study conducted 
under this section. The Comptroller General shall follow 
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up with such Committees after the third year and the fifth 
year after such date of enactment. 
Passed the House of Representatives April 17, 2008. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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Calendar No. 722 
110TH CONGRESS 
2D SESSION 
H. R. 5715 
AN ACT 
To ensure continued availability of access to the 
Federal student loan program for students and 
families. 
APRIL 29, 2008 
Read the second time and placed on the calendar 
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