,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bdei  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #aj1 #bjad ,mr4  
,grassley introduc$ ! foll[+ bill2 :i* 0
 read twice & ref]r$ to ! ,committee on 
,heal?1 ,education1 ,labor1 & ,p5sions  
,a ,,bill  ,to revise c\nsel+           
requirem5ts = c]ta9 borr[]s ( /ud5t     
loans & = o!r purposes4  #a4  ,%ort     
title  ,?is ,act may be cit$ z ! ,"k    
,be=e ,y ,owe ,f$]al ,/ud5t ,loan ,act (
 #bjad4  #b4  ,pre-,loan ,c\nsel+ &     
c]tification ( loan am\nt  ,section     
#dhe7l7 ( ! ,high] ,education ,act (    
#aife 7#bj ,u4,s4,c4 #ajib7l77 is       
am5d$--  7#a7 9 ! subsection head+1 by  
/rik+ ,entrance ,c\nsel+ & ins]t+       
,pre-,loan ,c\nsel+2  7#b7 9 p>agraph   
7#a7--  7,a7 9 subp>agraph 7,a7--  7i7 9
 ! matt] prec$+ clause 7i71 by /rik+ a  
disbursem5t to a fir/-"t borr[] ( a loan
 & ins]t+ ! fir/ disbursem5t ( ea* new  
loan 7or ! fir/ disbursem5t 9 ea* aw>d  
ye> if m ?an "o new loan is obta9$ 9 !  
same aw>d ye>72 &  7,b7 9 clause        

7ii77,i71 by /rik+ an entrance c\nsel+ &
 ins]t+ a c\nsel+2  7#c7 9 p>agraph     
7#b7--  7,a7 by /rik+ clause 7i7 (      
subp>agraph 7,g7 & ins]t+ ! foll[+3  7i7
 an e/imate ( ! borr[]'s project$ loan  
debt-to-income ratio ^u graduation1     
calculat$ us+ ! be/ available data on   
/>t+ wages = ! borr[]'s program ( /udy &
 ! e/imat$ total /ud5t loan debt1       
includ+ ,f$]al & private loan debt      
already incurr$ & ! e/imat$ future debt 
requir$ to complete ! program ( /udy2 & 
2 &  7,b7 by add+ at ! end ! foll[+3    
7,l7 ,a /atem5t t ! borr[] %\ld borr[ ! 
m9imum am\nt necess>y to cov] exp5ses & 
t ! borr[] does n h to accept ! full    
am\nt ( loans = :i* ! borr[] is         
eligible4  7,m7 ,in=mation ab\t !       
default risk ( hav+ a project$ loan     
debt-to-income ratio great] ?an #ab     
p]c5t4  7,n7 ,options = r$uc+ borr[+    
?r\gh s*ol>%ips1 r$uc$ exp5ses1 "w-/udy1
 or o!r "w opportunities4  7,o7 ,an     
explanation ( ! importance ( graduat+ on
 "t to avoid additional borr[+1 &       

in=mation on h[ add+ an additional ye> (
 /udy impacts total indebt$ness4  2 &   
7#d7 by add+ at ! end ! foll[+3  7#c7 ,9
 addition to ! o!r requirem5ts ( ?is    
subsection1 ea* eligible in/itution     
%all1 prior to c]tify+ a ,f$]al direct  
loan "u "p ,d = disbursem5t to a /ud5t  
7o!r ?an a ,f$]al ,direct ,consolidation
 ,loan or a ,f$]al ,direct ,,plus loan  
made on behalf ( a /ud5t71 ensure t !   
/ud5t manually ent]1 ei!r 9 writ+ or    
?r\gh electronic means1 ! exact doll>   
am\nt ( ,f$]al direct loan fund+ "u "p  
,d t su* /ud5t desires to borr[4  4  #c4
  ,con=m+ ,am5dm5ts  7a7  ,program      
p>ticipation agreem5ts  ,section        
#dhg7;e77#b77;,b77ii77,,iv7 ( ! ,high]  
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajid7;e77#b77;,b77ii77,,iv77 is am5d$--
  7#a7 by /rik+ ,entrance & exit c\nsel+
 & ins]t+ ,pre-loan & exit c\nsel+2 &   
7#b7 by /rik+ entrance & exit c\nsel+ & 
ins]t+ pre-loan & exit c\nsel+4  7b7    
,regulatory relief & improvem5t         
,section #dhg;,a ( ! ,high] ,education  

,act ( #aife 7#bj ,u4,s4,c4 #ajid;a7 is 
am5d$ by /rik+ entrance & exit int]views
 & ins]t+ pre-loan & exit int]views ea* 
place ! t]m appe>s4