:: College Cost Reduction and Access Act (CCRAA) ::
The College Cost Reduction and Access Act (CCRAA) was signed by President Bush on Sept. 27, 2007.
CCRAA addresses interest rates, reduction of lender SAP, definition of eligible not-for-profit-holder, exceptional performer, reduction of lender insurance, increased loan origination fee from lenders, competitive loan auction pilot program for FFELP Parent PLUS loans, loan forgiveness for public service employees, Income-Based Repayment (IBR), economic hardship deferment definition, military deferment, TEACH Grants, College Access Challenge Grants, guaranty agency collection retention and guaranty agency account maintenance fees.Quick Content Links
This list includes links to bill and law texts, Congressional reports, Dear Colleague Letters and the Federal Register.
- CCRAA Public Law 110-084/H.R. 2669 Bill text PDF
- CCRAA Technical Corrections Public Law 110-153/S. 2371 Bill Text PDF
- Federal Register notices
- Congressional Budget Office (CBO) Cost Estimate for H.R. 2669 PDF
- Conference Report and Joint Explanatory Statement of the CCRAA PDF
- Dear Colleague Letters
- GEN-08-07 (external link) – Clarification about how institutions establish eligibility to participate in the TEACH Grant Program
- FP-08-02 (external link) – Revised promissory note addenda and Plain Language Disclosures for Federal Stafford, PLUS and Consolidation loans
- GEN-08-01/FP-08-01 (external link) – CCRAA changes to Title IV loan and grant programs
- FP-07-12 (external link) – Guidance about eligible not-for-profit holders for purposes of SAP billings
- FP-07-11 (external link) – Guidance to lenders about changes to the LaRS
- NSLDS Technical Updates
- GA-08-03 (external link), CCRAA Update #2 - Changes allow for the reporting of a new Deferment Type Code for military personnel called to active duty (MR)
- GA-08-02 (external link), CCRAA Update #1 - Changes allow for the reporting of a new Deferment Type Code for military personnel called to active duty (MR), change in requirements for the Military Operations (MO) Deferment Type Code and an Enrollment Reporting reminder
This list includes links to impact summaries, side-by-side analysis, blacklines and other helpful tools developed by OCAP and our industry partners.
- OCAP resources
- NCHELP resources
- Economic Hardship Deferment Q&A PDF
- Testimony of Board Chair Mary Mowdy PDF
- Sept. 10, 2007, News Release – Statement about passage of H.R. 2669 PDF
- CCRAA Summary PDF
- Draft side-by-side analysis of the CCRAA DOC
- Summary of Higher Education Access Act of 2007 PDF – The Senate passed S. 1762 PDF on July 20, 2007; the bill is the Senate version of the budget reconciliation measure required under 2007's budget resolution.
- CCRAA Blacklines
We hosted two “College Cost Reduction and Access Act (CCRAA) and New Loan Provisions” training sessions in November 2007. Workshop materials and resources, including the PowerPoint presentation and handouts, are available below.
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