A bill to amend section 435(o) of the Higher Education Act of 1965 regarding the definition of economic hardship.

Summary

Amends the Higher Education Act of 1965 with respect to the meaning of economic hardship under the Federal Family Education Loan or Perkins Loan and related loan insurance programs. Considers borrowers under such programs to be suffering economic hardship if they are working full-time, have a federal educational debt burden equal to at least 20% of their adjusted gross income, and the difference between their adjusted gross income minus such debt burden is less than 220% of the greater of: (1) the annual earnings of an minimum wage earner; or (2) 150% of the poverty line applicable to their family size.

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Timeline

1. 2 November 2007

   Introduced

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

   Source: IntroReferral

2. 2 November 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 November 2007 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 November 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 November 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 November 2007

  Open at official source

Sponsors

• Sen. Burr, Richard [R-NC] · R · Sponsor
• Sen. Isakson, Johnny [R-GA] · R · Sponsor
• Sen. Coburn, Tom [R-OK] · R · Cosponsor
• Sen. Alexander, Lamar [R-TN] · R · Cosponsor
• Sen. Chambliss, Saxby [R-GA] · R · Cosponsor
• Rep. Roberts, Pat [R-KS-1] · R · Cosponsor
• Rep. Dodd, Christopher J. [D-CT-2] · D · Cosponsor
• · sshr00 · Standing

Related records

• related to → To amend section 435(o) of the Higher Education Act of 1965 regarding the definition of economic hardship.