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{{Economic Policy (U.S.)|congress=110|bill=h5715}} {{Article summary|The '''Ensuring Continued Access to Student Loans Act of 2008''' (H.R. 5715) was a bill in the [[110th Congress]] "to ensure continued availability of access to the Federal student loan program for students and families." (Official title.)<ref name="ProjectVoteSmart info">Project Vote Smart's info page on [http://www.votesmart.org/issue_keyvote_detail.php?cs_id=18717 Ensuring Continued Access to Student Loans Act of 2008(H.R.5715)].</ref> }} == Current status == <usbillinfo congress="110" bill="H.5715" /> == Bill summary == *Increases the loan limit above the determined financial need for graduate students enrolled in an eligible institution from $10,000 to $12,000, allows a limit of up to $2,000 for dependent undergraduate students, and increases the limit amounts for independent undergraduate students from $4,000 to $6,000 for the first two years of study and from $5,000 to $7,000 for the second two years of study (Sec. 2).<ref name="ProjectVoteSmart info" /> *Sets the total loan limit for undergraduate studies at $31,000 for dependent students and $57,500 for independent students (Sec. 2).<ref name="ProjectVoteSmart info" /> *Allows a six month grace period after a student has less than half of a full time class load before parent borrowers must start making payments (Sec. 3).<ref name="ProjectVoteSmart info" /> *Authorizes the Secretary of Education and the Secretary of the Treasury to purchase loans originated on or after October 1, 2003 from eligible lenders if there is an inadequate availability of loan capital to meet the demand for student loans, with a temporary authority that expires on July 1, 2009 (Sec. 7).<ref name="ProjectVoteSmart info" /> == Key votes == *Vote to pass a bill that changes the limits for student loans, changes repayment requirements for parents, and temporarily allows the government to purchase loans from certain lenders.<ref name="ProjectVoteSmart info" /> <usvoteinfo year="2008" chamber="house" rollcall="204" /> == Supporters == *Consumer Bankers Association *National Association of Student Financial Aid Administrators == Articles and resources == *The Boston Globe's article on [http://www.boston.com/business/articles/2008/04/10/house_panel_oks_higher_limits_for_student_loans/ House panel OKs higher limits for student loans] 10 Apr 2008. *Inside Higher Ed's article [http://www.insidehighered.com/news/2008/04/10/loans House Panel Addresses the Would-Be Student Loan Crisis] 10 Arp 2008. === See also === === References === <references />

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