H.R. 1617 · 109th Congress
To allow borrowers consolidating student loans to choose a variable or fixed interest rate, and for other purposes.
- Stage
- In committee
- Sponsor
- Tom Petri
- Introduced
- 2005-04-13
- Latest action
- 2005-04-29 · Referred to the Subcommittee on 21st Century Competitiveness.
Summary
Amends the Higher Education Act of 1965 (HEA) to allow borrowers consolidating student loans to choose: (1) a variable or fixed interest rate; and (2) the loan consolidator.
Provides for the Federal Government's recapture of excess interest charged by lenders, under HEA provisions for special allowances for lenders of student loans.