Capital Availability for Higher Education Amendments

Summary

Capital Availability for Higher Education Amendments - Amends the Higher Education Act of 1965 to raise the limit from $2,500 to $3,500 on federally insured loans per academic year to undergraduate students, and to raise from $7,500 to $10,500 the total amount of such loans per undergraduate student. Authorizes eligible lenders to elect to have such loans collected by the Federal Government through the Secretary of the Treasury and the Commissioner of Education. Establishes guidelines and requirements for such program, including the deduction and withholding of wages by employers of student borrowers. Establishes the Guaranteed Student Loan Fund in the United States Treasury to repay to lenders funds withheld from the wages of borrowers. Establishes an advisory panel to consider questions relating to such federally insured higher education loans.

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1 official file

• Introduced in House

  summary · EN · 17 May 1978

  Open at official source

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