Other names for this bill
This bill may be referred to as the HEA - acronym for Higher Education Act.
What this bill does
This bill...
o Increased spending of public money for universities.
o Created scholarships and low-interest loans for students (Title IX).
o Established a Teacher Corps to improve education in low-income areas.
o Created scholarships and low-interest loans for students (Title IX).
o Established a Teacher Corps to improve education in low-income areas.
Borrower Defense to Repayment protects from fraudulent schools
The bill was amended to add a Borrower Defense - allowing borrowers to have their loan forgiven if their college defrauded them (the specifics have been the subject of various regulations that followed).
Click here to read the Borrower Defense clause (Title IV, Sect. 455(h) on page 480).