H.R. 5150 · 109th Congress
Reverse the Raid on Student Aid Act of 2006
- Stage
- In committee
- Sponsor
- George Miller
- Introduced
- 2006-04-06
- Latest action
- 2006-05-24 · Referred to the Subcommittee on 21st Century Competitiveness.
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.