legislation: 97-hr-5111

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
97-hr-5111 97 hr 5111 A bill to require improved collection of defaulted NDSL loans by institutions of higher education and by the Department of Education, and for other purposes. Education 1981-12-03 1981-12-18 Referred to Subcommittee on Postsecondary Education. House Rep. Biaggi, Mario [D-NY-10] NY D B000432 0 Amends the Higher Education Act of 1965 to direct the Secretary of Education to reduce the amount of Federal capital contributions for direct student loans (under the national defense student loan program, "NDSL") to any institution of higher education with a default rate for such loans of more than ten percent for any fiscal year beginning on or after October 1, 1982. Directs the Secretary to exclude from applications unjustified increases requested in anticipation of such reductions. Allows institutions of higher education to provide information concerning student borrowers who have defaulted on direct loans to the Secretary and to collection agencies, in accordance with regulations. Revises provisions relating to student default under the Federal loan insurance program to replace authority to contract with "private business concerns" with authority to contract with "nonprofit private organizations and agencies" for loan recovery purposes. 2025-07-21T19:44:15Z  

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