Offshore schools may lose federal loans

[squiggy]

The Chronicle of Higher Education reported that the bill retained the "grandfather clause." This isn't a primary source, so I looked at thomas.loc.gov.

There are several versions of S. 1932. The one that was recently passed by the house (12-19-05) is :

Deficit Reduction Act of 2005 (Engrossed Amendment as Agreed to by House)[S.1932.EAH]

Look at that version, and check out:

SEC. 2127. DEFINITION OF ELIGIBLE PROGRAM.

That is where you find the good news.

The Library of Congress web site has not yet published the "minor" modifications that the Senate has made to the bill. I'm not sure what is really considered minor (http://releases.usnewswire.com/GetRelease.asp?id=58556).

Honestly, the thomas.loc.gov web site is not user friendly. If my interpretation of what happened is wrong, please correct me.

[options]

It doesn't really say a whole lot. It says that an annual list will be published of eligible programs. So now we have to get on that list?

[OLDPRO]

if they retained the clause then the schools eligible before will be eligible

[squiggy]

I won't have time to look at this before work, but the Senate version was just published on Thomas.loc.gov

[ML]

Originally Posted by squiggy

I won't have time to look at this before work, but the Senate version was just published on Thomas.loc.gov

I just looked at the senate version and it doesn't even have the SEC 2127. Does this mean we are screwed??????

-VJ

[squiggy]

Originally Posted by ML

I just looked at the senate version and it doesn't even have the SEC 2127. Does this mean we are screwed??????

-VJ

The latest Senate version only includes amendments to the version approved by the House. Since the new version is not changing the definition of eligible programs, the Big 3 are still eligilbe for federal funding.

[squiggy]

Originally Posted by options

It doesn't really say a whole lot. It says that an annual list will be published of eligible programs. So now we have to get on that list?

That list is for programs that are attempting to become eligible. We don't have to worry about that.

[MGR627]

Originally Posted by squiggy

The latest Senate version only includes amendments to the version approved by the House. Since the new version is not changing the definition of eligible programs, the Big 3 are still eligilbe for federal funding.

so is all of this over? is the grandfather clause still included, allowing us to keep federal loans?

[jjb1980]

Boy do I hope so! I will keep checking for new information.

[Scott1981]

no need to thank me guys......... i know it was my letter in particular to sen sessions that made him change his mind.