HEA 101: Loans


Print
E-mail

Overview
 

Significant improvements were made to the federal student loan programs. The improvements vary from program to program, but among the new benefits for students are lower interest rates, reduction of fees, increased borrowing amounts, new loan repayment options, loan forgiveness programs, and access to PLUS borrowing by graduate students.

Most of the major changes to the loan programs were enacted through the budget reconciliation bills, the February 2006 budget reconciliation act (confusingly called Higher Education Reconciliation Act (HERA), Title VIII of the Deficit Reduction Act of 2005 (PL 109-171)) and the College Cost Reduction and Access Act (PL 110-84). In addition to the changes made in the budget bills and the HEOA, changes were made in extension bills, technical amendments bills, and Ensuring Continued Access to Student Loans Act.

Other Association Resources
 



Statutory Language