Section 1 Short title
This Act may be cited as the “PLUS Loan Accessibility Act” .
PLUS Loan Accessibility Act
A BILL
To amend the Higher Education Act of 1965 to suspend, for a certain period, the use of adverse credit history in determining eligibility for Federal Direct PLUS Loans.
Sec. 2 Provision of eligibility for Federal Direct PLUS Loans
Section 428B(a)(1)(A) of the Higher Education Act of 1965 (20 U.S.C. 1078–2(a)(1)(A)) is amended by adding before the semicolon the following: “, except that this subparagraph shall not be enforced with respect to Federal Direct PLUS Loans during the period beginning on the date of enactment of the PLUS Loan Accessibility Act and ending on the date on which the Secretary implements the final rules on the proposed rules developed by the negotiated rulemaking committee established pursuant to the announcement of intent to establish a negotiated rulemaking committee published by the Department on May 1, 2012 (77 Fed. Reg. 25658 et seq.)”.