Student Loan Amendments
Latest action. Referred to House Committee on Education and Labor.
Student Loan Amendments - Increases the maximum rate of interest to be charged on a loan secured under the Emergency Insured Student Loan Act of 1969 from 3 to 4 percent. Extends to July 1, 1976, the time within which an eligible loan may be made which is insured under such Act. Requires, under the Higher Education Act of 1965, that to be eligible for interest payment to be made in behalf of a student who is receiving a loan under such Act, the student must have been enrolled as a regular student at an institution of higher education prior to April 1, 1973. Provides for reimbursement of 80 percent of the losses incurred by default of the borrower to public or private institutions operating a student loan insurance program. Authorizes the Commissioner of Education to increase the basic grant payment, the amount of such increase to be determined by and limited to, an estimation of the amount of interest which will accrue on the outstanding and anticipated loans of a student which were necessary for him to attend an institution of higher learning during previous years or which are necessary to enable such student to continue to attend such an institution during such year. Permits the compounding of interest on loans made pursuant to the Higher Education Act of 1965. Increases the loan limitations for undergraduate students to $2500 in one year and for graduate or professional students to $5000 in one year. Increases the total amount any student may borrow to $25,000. Extends the maximum allowable repayment period for federally insured loans from 10 to 15 years, this period to begin nine months after graduation. Extends the maximum allowable period of the loan from 15 to 20 years. Provides for the determination of need and the granting of a loan based on such determination to eligible students outside of the United States. Eliminates the defense of infancy with respect to written agreements executed by a student relating to federally insured student loans.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on February 27, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on February 27, 1974: Referred to House Committee on Education and Labor.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
JOHN DELLENBACK (R-OR) introduced it on February 27, 1974, and 1 member has since signed on as a cosponsor.
They are 1 Republican.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on February 27, 1974, 19188 days ago. The most recent recorded action was 19188 days ago, on February 27, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers