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Home > Federal Government > H.R.2465
Chief Sponsor:

Thomas E. Petri

Tagged in: Aged, Bankruptcy, Budgets, Collection of accounts, Disabled, Education, Federally-guaranteed loans, Finance, Government information, Government lending

Latest Update: Friday, November, 21st 2008

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To allow for the consolidation of Federal student loans into a single direct income-contingent loan repayment program.

5/23/2007--Introduced.

Income-Dependent Education Assistance Act of 2007 - Directs the Secretary of Education to conduct a direct income-dependent education assistance (IDEA) loan program, from July 1, 2008, through July 1, 2014, under which student borrowers of Federal Family Education Loans (FFELs) or Direct Loans (DLs), under parts B and D of title IV of the Higher Education Act of 1965, may elect to convert or consolidate such loans to direct IDEA loans.

Provides that when a student defaults on a loan under the FFEL or DL programs and it is repaid or canceled by the Secretary, it is thereby converted to a direct IDEA loan.

Amends the Internal Revenue Code to provide for collection of IDEA loan repayments through the income tax collection system.
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Latest Actions
  • 07/17/2007 - Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
  • 05/23/2007 - Sponsor introductory remarks on measure. (CR E1136)
  • 05/23/2007 - Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • 05/23/2007 - Referred to House Education and Labor
  • 05/23/2007 - Referred to House Ways and Means
Bill Text
File name Last Updated
H.R.2465 Introduced in House08/31/2007