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H.R. 4370: Direct Loan Reward Act of 2004

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H.R. 4370: Direct Loan Reward Act of 2004

108th Congress · introduced 2004-05-17 · Education · Latest: Referred to the Subcommittee on 21st Century Competitiveness.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2004-05-17 · official record
  2. Who proposed it: Rep. Petri, Thomas E. [R-WI-6] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on 21st Century Competitiveness. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Direct Loan Reward Act of 2004

Plain summary

Direct Loan Reward Act of 2004 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Secretary of Education to carry out a Direct Loan Reward Program to encourage institutions of higher education to participate in the student loan program under part D, Federal Perkins Loans. Makes the amount of financial reward payment to an institution under this Act equal to 50 percent of the savings to the Federal Government generated by the institution's participation in such part D student loan program instead of its participation in the student loan program under the part B Federal Family Education Loan Program.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Direct Loan Reward Act of 2004

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Petri, Thomas E. [R-WI-6] · 36 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Lloyd Doggett (D-TX), Danny K. Davis (D-IL), Janice D. Schakowsky (D-IL), Tammy Baldwin (D-WI), Linda T. Sánchez (D-CA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong108-hr4370 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108