September 18, 2008
Senate Follows the House And Passes a One-Year Extension of H.R. 5715
Last night, the U.S. Senate passed by unanimous consent H.R. 6889, legislation to extend the authority of the Secretary of Education to purchase guaranteed student loans for an additional year. This follows passage by the U.S. House of Representatives Monday night by a vote of 368 – 4. The original authority to purchase loans was granted to the Education Secretary under H.R. 5715, the Ensuring Continued Access to Student Loans Act (ECASLA) of 2008 (P.L. 110-227). EFC joined other members of the FFELP community in supporting the one-year extension of ECASLA in order to provide stability and certainty for students and families who will shortly begin making financial aid decisions for next fall.
The bill now moves to the President's desk for his signature.
Senate Follows the House And Passes a One-Year Extension of H.R. 5715
Last night, the U.S. Senate passed by unanimous consent H.R. 6889, legislation to extend the authority of the Secretary of Education to purchase guaranteed student loans for an additional year. This follows passage by the U.S. House of Representatives Monday night by a vote of 368 – 4. The original authority to purchase loans was granted to the Education Secretary under H.R. 5715, the Ensuring Continued Access to Student Loans Act (ECASLA) of 2008 (P.L. 110-227). EFC joined other members of the FFELP community in supporting the one-year extension of ECASLA in order to provide stability and certainty for students and families who will shortly begin making financial aid decisions for next fall.
The bill now moves to the President's desk for his signature.
