A bill to amend section 435(d)(1)(A)(ii) of the Higher Education Act of 1965 with respect to the definition of an eligible lender.
Kid's Bank Act - Amends the Higher Education Act of 1965 (HEA) to include under the definition of an eligible lender a bank that: (1) is a wholly owned subsidiary of a tax-exempt charitable nonprofit foundation; (2) makes HEA student loans only to undergraduate students who are age 22 or younger; and (3) has a portfolio of such loans that is not more than $10 million.
Referred to the House Committee on Education and the Workforce.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S7718-7719)
Read twice and referred to the Committee on Labor and Human Resources.
Committee on Labor and Human Resources. Hearings held.
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