PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S5500-5502)
Congressional Research Service
Version 00 · Introduced in Senate · May 2, 2007
Student Loan Accountability and Disclosure Reform Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (the Act) to expand prohibitions on guaranty agencies operating under the Federal Family Education Loan (FFEL) program by prohibiting their offering specified inducements to institutions of higher education (IHE) or lenders to secure business or providing certain services for such institutions without appropriate compensation.
Requires lenders to provide student loan applicants with certain written information regarding: (1) loan conditions; (2) their possible qualification for title IV assistance; (3) the method for determining the applicable interest rate; and (4) whether the loans provided exceed a student's attendance costs.
Directs the Secretary of Education and the Secretary of the Treasury to review the private educational loan market to identify possible discriminatory lending practices affecting students who qualify for a simplified needs test or application process.
Showing the opening paragraphs of the official summary.
Expands the activities disqualifying lenders from participation in the FFEL program, including: (1) offering specified inducements to IHEs; (2) performing certain uncompensated services for IHEs; and (3) entering into certain business arrangements with students or school financial aid employees.
Establishes a private loan exception to the prohibition IHE certification of a student's eligibility to borrow amounts in excess of those allowable under the FFEL program.
Requires limitation, suspension, or termination of an IHE's participation in title IV loan programs for noncompliance with a student loan code of conduct prohibiting IHEs or their financial aid employees from accepting certain inducements from, or entering into certain business arrangements with, lenders.
Bans IHEs from designating preferred lenders; but allows lenders to submit a standard electronic template to IHEs regarding loan conditions which will then be made available to students and their parents.
Terminates the authority of a school to serve as a lender or a lender to serve as a school trustee under the FFEL program.
People & committees
Sen. Enzi, Michael B. [R-WY] · R–WY
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S5500-5502)
Sponsor introductory remarks on measure. (CR S5499-5500)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.1262 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.1262 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.1262 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.1262 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.