To amend the Higher Education Act of 1965 to make certain interest rate changes permanent.

August 2, 2001

Mr. MCKEON (for himself, Mr. BOEHNER, Mrs. ROUKEMA, Mr. BALLENGER, Mr. EHLERS, Mr. TOM DAVIS of Virginia, Mr. ISAKSON, Mr. GORDON, Mr. OSBORNE, Mr. HOEKSTRA, Mr. ARMEY, Mr. WALSH, Mr. CASTLE, Mrs. KELLY, Mr. DEMINT, Mr. PETERSON of Pennsylvania, Mr. THOMAS, Mr. CALVERT, and Mr. HILLEARY) introduced the following bill; which was referred to the Committee on Education and the Workforce

To amend the Higher Education Act of 1965 to make certain interest rate changes permanent.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Access to Student Loans Act'.

SEC. 2. EXTENSION OF INTEREST RATE PROVISIONS.

(a) TECHNICAL CORRECTION- Paragraph (6) of section 455(b) of the Higher Education Act of 1965 (20 U.S.C. 1087e(b)), as redesignated by section 8301(c)(1) of the Transportation Equity Act for the 21st Century (Public Law 105-178; 112 Stat. 498), is redesignated as paragraph (8) and inserted after paragraph (7) of that section.

(b) EXTENSION-

(1) AMENDMENTS- Section 427A(k), 428C(c)(1), 438(b)(2)(I), and 455(b)(6) of such Act (20 U.S.C. 1077a(k), 1078-3(c)(1), 1087-1(b)(2)(I), and 1087e(b)(6)) are each amended by striking `and before July 1, 2003,' each place it appears.

(2) CONFORMING AMENDMENTS-

(A) Section 427A(k) of such Act is amended by striking the subsection heading and inserting the following: `INTEREST RATES FOR NEW LOANS ON OR AFTER OCTOBER 1, 1998- '.

(B) Section 438(b)(2)(I) of such Act is amended--

(i) by striking the subparagraph heading and inserting the following: `LOANS DISBURSED ON OR AFTER JANUARY 1, 2000- '; and

(ii) in clause (i), by striking `2000,' and inserting `2000'.

(C) Section 455(b)(6) of such Act is amended--

(i) by striking the paragraph heading and inserting the following: `INTEREST RATE PROVISION FOR NEW LOANS ON OR AFTER OCTOBER 1, 1998- '; and

(ii) in subparagraph (D), by striking `1999,' and inserting `1999'.

END