PRINTER'S NO. 2785
No. 460 Session of 2005
INTRODUCED BY PALLONE, BARRAR, BELFANTI, BENNINGHOFF, BOYD,
CALTAGIRONE, CAPPELLI, COHEN, COSTA, DeLUCA, DERMODY,
DeWEESE, FABRIZIO, GEORGE, GINGRICH, GOOD, GOODMAN, GRUCELA,
HASAY, HENNESSEY, HERMAN, HERSHEY, JAMES, KENNEY, KOTIK,
LEDERER, MANN, MARKOSEK, McGEEHAN, MUNDY, O'NEILL, PETRARCA,
PHILLIPS, PISTELLA, RAMALEY, READSHAW, REICHLEY, ROBERTS,
ROEBUCK, SAMUELSON, SIPTROTH, SHANER, SOLOBAY, SONNEY,
STABACK, THOMAS, TIGUE, WANSACZ, WILT AND WOJNAROSKI,
OCTOBER 17, 2005
To Calendar under Rule 35-Uncontested Calendar October 17, 2005
A RESOLUTION
1 Memorializing the Congress of the United States to allow
2 subsequent consolidation loans.
3 WHEREAS, The 1998 Amendments to the Higher Education Act of
4 1965 (Public Law 105-244) provided for Federal consolidation
5 loans to help students and graduates by reducing the cost of
6 repaying the money that they borrowed to finance their higher
7 education; and
8 WHEREAS, The law provides that a borrower who has a Federal
9 consolidation loan is not eligible for a subsequent Federal
10 consolidation loan except in the narrower circumstances in which
11 he or she has obtained another eligible loan that is to be
12 consolidated with the existing consolidation loan; and
13 WHEREAS, Many students and graduates would benefit from the
14 ability to refinance their student loans more than once in order
1 to secure a lower rate of interest; therefore be it
2 RESOLVED, That the House of Representatives of the
3 Commonwealth of Pennsylvania memorialize the Congress to amend
4 the 1998 Amendments to the Higher Education Act of 1965 to allow
5 for subsequent Federal consolidation loans regardless of whether
6 the borrower has obtained a new eligible loan; and be it further
7 RESOLVED, That copies of this resolution be transmitted to
8 the President of the United States, to the presiding officers of
9 each house of Congress and to each member of Congress from
10 Pennsylvania.
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