College Honors Program Act of 1989

Summary

College Honors Program Act of 1989 - Directs the Secretary of Education to allot funds under this Act among institutions of higher education to establish revolving loan funds. Makes an institution ineligible for such an allotment if its student default rate for loans under this Act is 20 percent or more. Allows such education loans to be made for up to four years, at up to $4,000 per year for any student, or at up to $5,000 per year for a student who: (1) has an academic concentration in science or mathematics and agrees to teach such subjects upon graduation; or (2) agrees to teach on an Indian reservation upon graduation. Sets forth student eligibility requirements for such assistance, including maintaining a certain grade level in high school and college, not defaulting on any student loan, and agreeing to pursue a teaching career in a public school. Sets forth loan terms, including cancellation of a portion of principal and interest for each year of full-time employment as a public school teacher. Directs the Secretary to reimburse institutions for the amounts cancelled under such loan program. Authorizes appropriations for FY 1990 through 1994.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 4 April 1989

  Open at official source

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