To prevent abuse of the special allowance subsidies under the Federal Family Education Loan Program.
Emergency Loan Abuse Prevention Act of 2005 - Amends the Higher Education Act of 1965 to reduce certain special allowance payments to holders of student loans.
Appropriates, for each fiscal year after enactment of this Act, an additional amount to increase the maximum Pell grant for that fiscal year. Makes such amount equal to the amount by which expenditures for such special allowances are reduced by this Act for that fiscal year, as determined by the Congressional Budget Office.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 113.
Introduced in House
Introduced in House
Referred to the House Committee on Education and the Workforce.
Referred to the Subcommittee on 21st Century Competitiveness.
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