Is the students loan reform in the bill?

[impik]

[CreekDog]

1. it's in the package that will get voted on

but it's not in the Senate Bill per se.

[liberalpragmatist]

2. Yes

It's in the reconciliation bill, the so-called "Health Care and Education Affordability Reconciliation Act of 2010."

[impik]

4. Excellent. Thank you. That's a terrific bonus and it will

help keep young people with Obama.

[Tansy_Gold]

3. as far as i could see, the "reform" does nothing for existing loans

only loans granted after the bill's passage into law.

but i could be wrong.



TG

[FrenchieCat]

5. Here's the info I posted earlier today, in the format as found in the Reconciliation bill summary...

Appears that it's not just loans made from this point on,
but there appears to be quite a few reference amendments to loans made prior
to 2010 in order to conform to the new rules. :shrug:

Check it out!

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x229011

[AZBlue]

6. Unfortunately previous loan holders often are forgotten.

It's a shame, there are so many of us it really boost the economy.

[FrenchieCat]

7. So did you check to see if that was the case,

cause that's not what I took away.

Looks like folks will be able to consolidate past loans if they do it within a year's time,
even if they have started to repay those loans.

That's my take away.

Language:
Section 2206. Federal Consolidation Loans. This section makes conforming changes with regard to the termination of the FFEL program for federal consolidation loans. This section also provides that, for a 1 year period, borrowers who have loans under both the Direct Lending program and the FFEL program, or who have loans under either program as well as loans that have been sold to the Secretary, may consolidate such loans under the Direct Lending program regardless of whether such borrowers have entered repayment on such loans.

[QC]

10. That is correct. Anyone who gets a direct loan prior to 2014 is SOL. n/t

[Change Happens]

8. Yes

[vaberella]

9. Yuppers...woohoo! I'm very excited by that. The idiots who were against it being there for costs

don't have an excuse now.