Amends the Higher Education Act of 1965 to direct the Secretary of Education to deposit in a student loan insurance fund a specified amount (of recovered advances made to State and private student loan funds) during FY 1988.
Requires the Secretary, in determining the amount of advances to be repaid by a State or private student loan fund for purposes of this Act, to: (1) consider the solvency and maturity, as determined by the Comptroller General, of the reserve and insurance funds assisted by such advances; and (2) not seek repayment of such advances from States during the period in which they meet specified criteria.
Introduced in House
Introduced in House
Referred to House Committee on Education and Labor.
Referred to Subcommittee on Postsecondary Education.
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