Bill > HR3530

This bill amends the Higher Education Act of 1965 to increase federal student loan limits specifically for students enrolled in undergraduate flight education and training programs. The legislation creates a new category of "eligible students" in flight programs and establishes tiered loan limits based on a student's year of study and dependent/independent status. For dependent students, annual loan limits range from $20,500 in the first year to $32,500 in later years, with an aggregate limit of $111,000. Independent students can borrow more, with annual limits ranging from $24,500 to $37,500 and an aggregate limit of $137,500. The bill also requires the Secretary of Education to annually collect data on program completion rates, with programs needing to maintain a 70% completion rate after three years of data collection to remain eligible. Additionally, the bill mandates more detailed loan disclosure requirements, including information about loan principal, interest rates, monthly payments, and total repayment estimates. The legislation also requires a Government Accountability Office (GAO) report within two years to review the implementation of these changes and provides $3 million in annual funding from 2025 to 2035 to support the program's administration.

Education

https://www.congress.gov/bill/119th-congress/house-bill/3530/all-info