PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Education and Labor.
Congressional Research Service
Version 00 · Introduced in House · Oct 31, 2007
Student Loan Auction Market Act - Directs the Secretary of Education (Secretary) and the Secretary of the Treasury to conduct a planning study of alternative market-based mechanisms for setting lenders' yields on Federal Family Education Loans under part B of title IV of the Higher Education Act of 1965.
Requires such study to be followed by a limited two-year pilot program testing the mechanisms which the study finds most promising in ensuring loan availability, minimizing administrative complexity, and reducing federal costs. Allows the Secretary to implement on a program-wide basis the auction-based system proven to satisfy such criteria, after an independent evaluation by the Government Accountability Office (GAO) of the pilot program, as well as the Competitive Loan Auction Pilot program established under the College Cost Reduction and Access Act.
People & committees
Rep. Petri, Thomas E. [R-WI-6] · R–WI
Legislative record
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Referred to the House Committee on Education and Labor.
Sponsor introductory remarks on measure. (CR E2292)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jul 21, 2025. Consult Congress.gov for the current record.
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