Emergency Student Loan Consolidation Act of 1997

Summary

Emergency Student Loan Consolidation Act of 1997 - Amends the Higher Education Act of 1965 (HEA) to allow until October 1, 1998, the consolidation, under the Federal Family Education Loan Program (FFELP), of all of a student's loans under both the FFELP and the Direct Loan Program. (Authorizes such consolidation of loans under both programs into single FFELP consolidation loans, which may be administered by entities other than the Department of Education, for an emergency period until October 1, 1998, to provide time to reduce a backlog in processing consolidation of both types of loans into Direct Lending Consolidation loans administered by the Department of Education.) Reduces the amount of certain funds available for administrative expenses under HEA student assistance provisions. Revises HEA need analysis requirements to reduce the family contribution for dependent or independent students by the amount of the Hope Tax Credit taken by the student, the student's parents, or the student's spouse (thus providing that students will not receive reduced financial aid as a result of qualifying for and receiving the new Hope Tax Credits under the Internal Revenue Code).

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Documents

6 official files

• Reported to Senate (text)

  Reported to Senate · EN · 29 October 1997

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• Reported to Senate (PDF)

  Reported to Senate · EN · 29 October 1997

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• Reported to Senate with amendment(s)

  summary · EN · 29 October 1997

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• Introduced in Senate (text)

  Introduced in Senate · EN · 9 October 1997

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 October 1997

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• Introduced in Senate

  summary · EN · 9 October 1997

  Open at official source

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