H.R. 6084 · 109th Congress
Income-Dependent Education Assistance Act of 2006
- Stage
- In committee
- Sponsor
- Tom Petri
- Introduced
- 2006-09-14
- Latest action
- 2006-11-02 · Referred to the Subcommittee on 21st Century Competitiveness.
Summary
Income-Dependent Education Assistance Act of 2006 - Directs the Secretary of Education to conduct a direct income-dependent education assistance (IDEA) loan program, from July 1, 2007, through July 1, 2013, under which student borrowers of Federal Family Education Loans (FFEL) or Direct Loans (DL), under parts B and D of title IV of the Higher Education Act of 1965, may elect to convert or consolidate such loans to direct IDEA loans. Provides that when a student defaults on a loan under the FFEL or DL programs and it is repaid or canceled by the Secretary, it is thereby converted to a direct IDEA loan.
Amends the Internal Revenue Code to collect IDEA loan repayments through the income tax withholding system.