United States · Bill · S
S. 2573 (109th)
Reverse the Raid on Student Aid Act of 2006
Introduced
6 April 2006
Last action
27 June 2006 · Introduced
Status
Sponsor introductory remarks on measure. (CR S6552-6553)
Sponsors
Sen. Durbin, Richard J. [D-IL]
Subjects
Education
Source updated
15 August 2025
Summary
Reverse the Raid on Student Aid Act of 2006 - Amends the Higher Education Act of 1965 to cut student loan interest rates to 3.4% for student borrowers and 4.25% for parent borrowers under the Federal Family Education Loan (FFEL) and William D. Ford Direct Loan programs for loans whose first disbursement is made on or after July 1, 2006. Maintains the current 6.8% interest rate, however, for unsubsidized Stafford loans for middle-income borrowers under such programs. Authorizes and appropriates the funds necessary to award eligible students with Pell Grants up to specified maximum increasing amounts from academic year 2007 to 2012, with increases thereafter gauged to the Consumer Price Index. Allows students to consolidate loans under the FFEL program while still in school. Sets limits on funds available for administrative expenses under the FFEL and Direct Loan programs for FY2007-2012. Eliminates the current FY2007-2011 authorization of appropriations for the administrative costs of such programs. Repeals the single holder rule which requires borrowers to apply to their current lenders for FFEL consolidation loans.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
6 April 2006
Introduced
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S3234-3235)
Source: IntroReferral
6 April 2006
Introduced
Sponsor introductory remarks on measure. (CR S3201-3203)
Source: IntroReferral
6 April 2006
Introduced
Introduced in Senate
Source: IntroReferral
27 June 2006
Introduced
Sponsor introductory remarks on measure. (CR S6552-6553)
Source: IntroReferral
Votes
No vote records are attached yet.
Versions
- Introduced in Senate · 6 April 2006 · Download file
Documents
3 official files
Introduced in Senate (text)
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Introduced in Senate (text)
Introduced in Senate · EN · 6 April 2006
Introduced in Senate (PDF)
Introduced in Senate · EN · 6 April 2006
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Introduced in Senate
summary · EN · 6 April 2006
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Sen. Durbin, Richard J. [D-IL] · D · Sponsor
- · sshr00 · Standing
Related records
- related to → Reverse the Raid on Student Aid Act of 2006
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/109th-congress/senate-bill/2573
- Open data entity: https://api.congress.gov/v3/bill/109/s/2573
- us · 109-s-2573 · source updated 15 August 2025