Income-Dependent Education Assistance Act of 2006

Summary

Income-Dependent Education Assistance Act of 2006 - Directs the Secretary of Education to conduct a direct income-dependent education assistance (IDEA) loan program, from July 1, 2007, through July 1, 2013, under which student borrowers of Federal Family Education Loans (FFEL) or Direct Loans (DL), under parts B and D of title IV of the Higher Education Act of 1965, may elect to convert or consolidate such loans to direct IDEA loans. Provides that when a student defaults on a loan under the FFEL or DL programs and it is repaid or canceled by the Secretary, it is thereby converted to a direct IDEA loan. Amends the Internal Revenue Code to collect IDEA loan repayments through the income tax withholding system.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 September 2006

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• Introduced in House (PDF)

  Introduced in House · EN · 14 September 2006

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• Introduced in House

  summary · EN · 14 September 2006

  Open at official source

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