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United States · Bill · HR

H.R. 4035 (110th)

To study, pilot, and implement a comprehensive, structural, market-based reform to the Federal Family Education Loan Program to reduce costs to taxpayers and improve program efficiency.

referredUnited States· United States Congress· EN

Introduced

31 October 2007

Last action

31 October 2007 · Introduced

Status

Referred to the House Committee on Education and Labor.

Sponsors

Rep. Petri, Thomas E. [R-WI-6]

Subjects

Education

Source updated

21 July 2025

Education

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Summary

Student Loan Auction Market Act - Directs the Secretary of Education (Secretary) and the Secretary of the Treasury to conduct a planning study of alternative market-based mechanisms for setting lenders' yields on Federal Family Education Loans under part B of title IV of the Higher Education Act of 1965. Requires such study to be followed by a limited two-year pilot program testing the mechanisms which the study finds most promising in ensuring loan availability, minimizing administrative complexity, and reducing federal costs. Allows the Secretary to implement on a program-wide basis the auction-based system proven to satisfy such criteria, after an independent evaluation by the Government Accountability Office (GAO) of the pilot program, as well as the Competitive Loan Auction Pilot program established under the College Cost Reduction and Access Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 31 October 2007

    Introduced

    Referred to the House Committee on Education and Labor.

    Source: IntroReferral

  2. 31 October 2007

    Introduced

    Sponsor introductory remarks on measure. (CR E2292)

    Source: IntroReferral

  3. 31 October 2007

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 31 October 2007

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 31 October 2007

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  • Introduced in House (PDF)

    Introduced in House · EN · 31 October 2007

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  • Introduced in House

    summary · EN · 31 October 2007

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Sponsors

Related records

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Sources

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