College Student Relief Act of 2007
Sponsor: GEORGE MILLER (D-CA)
College Student Relief Act of 2007 - Amends the Higher Education Act of 1965 to phase-in cuts in the interest rate charged undergraduate student borrowers under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs, thereby reducing such rate from 6.8% in July 2006 to 3.4% in July 2011. Limits FFEL lender insurance to 95% of the unpaid balance of such loans. (Currently, 97% of a FFEL issued after June 2006 is federally-insured.) Provides for graduated reductions in the percentage of defaulted FFEL loan collections a guaranty agency is allowed to retain until, beginning in October 2010, it is equal to the average rate paid to collection agencies that have contracts with the Secretary of Education.
Education Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 2.0% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Nay | Won | 241 | 54.0% |
| Yea | Lost | 186 | 44.0% |
| Not represented on this question | No position taken | 0 | 2.0% |