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H.R. 5: College Student Relief Act of 2007

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H.R. 5: College Student Relief Act of 2007

110th Congress · introduced 2007-01-12 · Education · Latest: Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2007-01-12 · official record
  2. Who proposed it: Rep. Miller, George [D-CA-7] · what a sponsor is
  3. What happened next: 2 recorded votes in our records. Latest: House roll call 31 (2007): On Motion to Recommit with Instructions, HR5 (2007-01-17), Failed. See all
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions. 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

College Student Relief Act of 2007

Plain summary

College Student Relief Act of 2007 - Amends the Higher Education Act of 1965 to phase-in cuts in the interest rate charged undergraduate student borrowers under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs, thereby reducing such rate from 6.8% in July 2006 to 3.4% in July 2011. Limits FFEL lender insurance to 95% of the unpaid balance of such loans. (Currently, 97% of a FFEL issued after June 2006 is federally-insured.) Provides for graduated reductions in the percentage of defaulted FFEL loan collections a guaranty agency is allowed to retain until, beginning in October 2010, it is equal to the average rate paid to collection agencies that have contracts with the Secretary of Education. Eliminates exceptional performer status for lenders, servicers, and guaranty agencies, which rewards such entities for high due diligence in FFEL collection. Reduces special allowance payments made to FFEL lenders to compensate them for the difference between FFEL interest rates and market rates. Exempts small lenders from such reduction. Increases the loan fee charged FFEL lenders from .5% to 1% of the principal amount of loans disbursed after June 2007. Prohibits its collection from borrowers. Increases, after June 2007, the rebate fee charged a holder of FFEL consolidated loans, provided that at least 90% of the total principal and accrued unpaid interest outstanding on loans held by such holder are such loans.

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

What a vote does

A “Yea” vote

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A “Nay” vote

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

What does this mean? (plain words)

Official text

College Student Relief Act of 2007

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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

Officials and money

Sponsor: Rep. Miller, George [D-CA-7] · 211 cosponsors

Cost estimate: CBO cost estimate: H.R. 5, College Student Relief Act of 2007 (2007-01-16); CBO cost estimate: H.R. 5, College Student Relief Act of 2007 (2007-01-16); CBO cost estimate: H.R. 5, College Student Relief Act of 2007 (2007-03-19); CBO cost estimate: H.R. 5, College Student Relief Act of 2007 (2007-03-19)

Cosponsors on this site

Joe Courtney (D-CT), Robert C. "Bobby" Scott (D-VA), Danny K. Davis (D-IL), Linda T. Sánchez (D-CA), Yvette D. Clarke (D-NY), Mazie K. Hirono (D-HI), Tammy Baldwin (D-WI), Kathy Castor (D-FL), James E. Clyburn (D-SC), Steve Cohen (D-TN) and 151 more.

Recorded votes

Sources

Record fed-us-cong110-hr5 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110