A bill to amend section 428(a) of the Higher Education Act of 1965, as amended, and section 2(a)(7) of the Emergency Insured Student Loan Act of 1969, to better assure that students will have reasonable access to loans to meet their post-secondary education costs, and for other purposes.

Removes the present requirement under the Higher Education Act of 1965 that educational institutions, whose students apply under such Act for Federal interest subsidy payments, make the determinations of need for use by lenders under such Act. Requires such institutions to provide lenders with statements of the students' estimated costs of attendance and with estimates of the amounts of assistance other than the lenders' loans which the students will receive.

Extends for one year (until July 1, 1975) specified provisions of the Emergency Insured Student Loan Act of 1969 covering the postsecondary education costs of eligible students under such Act.