To extend the authority of the Secretary of Education to purchase guaranteed student loans for an additional year, and for other purposes.

Bill: 110-hr-6889
Sponsor: Rep. Miller, George [D-CA-7]
Introduced: 2008-09-15 in the House
Policy area: Education
Subjects: Colleges
Congress
Congressional reporting requirements
Economics and Public Finance
Federally-guaranteed loans
Finance and Financial Sector
Government lending
Higher education
Student loan funds

Summary:
action_date: 2008-09-15
text: 
Amends the Higher Education Act of 1965 to extend by one year, from July 2009 to July 2010, the Secretary of Education's authority to purchase, or enter into forward commitments to purchase, Federal Family Education Loans (FFELs) from lenders upon the determination that there is an inadequate availability of loan capital to meet the demand for such loans. 
 
Extends by one year, from June 30, 2009 to June 30, 2010, the authority of institutions of higher education (IHEs), with the Secretary's approval, to participate in the FFEL lender-of-last-resort program for borrowers otherwise unable to obtain such loans; thereby requiring guaranty agencies serving as lenders-of-last-resort to make FFELs to student and parent borrowers of such IHEs, until such date, regardless of their ability to otherwise obtain such loans.

action_date: 2008-09-15
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Amends the Higher Education Act of 1965 to extend by one year, from July 2009 to July 2010, the Secretary of Education's authority to purchase, or enter into forward commitments to purchase, Federal Family Education Loans (FFELs) from lenders upon the determination that there is an inadequate availability of loan capital to meet the demand for such loans. 
 
Extends by one year, from June 30, 2009 to June 30, 2010, the authority of institutions of higher education (IHEs), with the Secretary's approval, to participate in the FFEL lender-of-last-resort program for borrowers otherwise unable to obtain such loans; thereby requiring guaranty agencies serving as lenders-of-last-resort to make FFELs to student and parent borrowers of such IHEs, until such date, regardless of their ability to otherwise obtain such loans. 

action_date: 2008-09-15
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Amends the Higher Education Act of 1965 to extend by one year, from July 2009 to July 2010, the Secretary of Education's authority to purchase, or enter into forward commitments to purchase, Federal Family Education Loans (FFELs) from lenders upon the determination that there is an inadequate availability of loan capital to meet the demand for such loans. 
 
Extends by one year, from June 30, 2009 to June 30, 2010, the authority of institutions of higher education (IHEs), with the Secretary's approval, to participate in the FFEL lender-of-last-resort program for borrowers otherwise unable to obtain such loans; thereby requiring guaranty agencies serving as lenders-of-last-resort to make FFELs to student and parent borrowers of such IHEs, until such date, regardless of their ability to otherwise obtain such loans. 

action_date: 2008-10-07
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Amends the Higher Education Act of 1965 to extend by one year, from July 2009 to July 2010, the Secretary of Education's authority to purchase, or enter into forward commitments to purchase, Federal Family Education Loans (FFELs) from lenders upon the determination that there is an inadequate availability of loan capital to meet the demand for such loans. 
 
Extends by one year, from June 30, 2009 to June 30, 2010, the authority of institutions of higher education (IHEs), with the Secretary's approval, to participate in the FFEL lender-of-last-resort program for borrowers otherwise unable to obtain such loans; thereby requiring guaranty agencies serving as lenders-of-last-resort to make FFELs to student and parent borrowers of such IHEs, until such date, regardless of their ability to otherwise obtain such loans.


Legislative actions:
action_date: 2008-10-07
text: Became Public Law No: 110-350.
action_date: 2008-10-07
text: Became Public Law No: 110-350.
action_date: 2008-10-07
text: Signed by President.
action_date: 2008-10-07
text: Signed by President.
action_date: 2008-09-26
text: Presented to President.
action_date: 2008-09-26
text: Presented to President.
action_date: 2008-09-18
text: Message on Senate action sent to the House.
action_date: 2008-09-17
text: Cleared for White House.
action_date: 2008-09-17
text: Passed Senate without amendment by Unanimous Consent. (consideration: CR S8960)
action_date: 2008-09-17
text: Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S8960)
action_date: 2008-09-16
text: Received in the Senate, read twice.
action_date: 2008-09-15
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2008-09-15
text: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 368 - 4 (Roll no. 591). (text: CR H8089-8090)
action_date: 2008-09-15
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 368 - 4 (Roll no. 591).(text: CR H8089-8090)
action_date: 2008-09-15
text: Considered as unfinished business. (consideration: CR H8096)
action_date: 2008-09-15
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2008-09-15
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 6889.
action_date: 2008-09-15
text: Considered under suspension of the rules. (consideration: CR H8089-8092)
action_date: 2008-09-15
text: Mr. Hinojosa moved to suspend the rules and pass the bill.
action_date: 2008-09-15
text: Referred to the House Committee on Education and Labor.
action_date: 2008-09-15
text: Introduced in House
action_date: 2008-09-15
text: Introduced in House

Enacted as: number: 110-350