HERA - Higher Education Reconciliation Act of 2005

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:: Higher Education Reconciliation Act of 2005 (HERA) ::

The Higher Education Reconciliation Act of 2005 (HERA), Title VIII of the Deficit Reduction Act (DRA), was signed by President Bush on Feb. 8, 2006.

HERA addresses correspondence courses, ACG and SMART Grant programs, loan limits, PLUS loans for graduate and professional students, PLUS loan interest rate, excess interest, special allowance PLUS loans, new military deferment, study abroad and foreign school disbursement, repayment plans, origination fees, cross-program consolidation, spousal consolidation loans; in-school consolidation, low-cohort school disbursement rules, school as lender, false certification, teacher loan forgiveness, tax exempt funds special allowance, reduction of insurance, federal default fee, exempt claims, exceptional performer insurance, default claims reinsurance, escrow agent, forbearance, VFA, Rehabilitation Default Reduction Program, account maintenance fee, academic year definition, student eligibility-fraud, student eligibility-drug related offenses, verification of IRS data, institutional refunds, leave of absence, college access initiative and wage garnishment.

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Federal Documents
Industry Resources
Training Presentations

Federal Documents

This list includes links to bill and law texts, Congressional reports, Dear Colleague Letters and the Federal Register.

Public Law 109-171/S. 1932 Bill Text PDF
Federal Register notices
- Nov. 1, 2006, Final Regulations (external link)
- Aug. 9, 2006, Interim Final Regulations (external link)
Electronic Announcements
- June 20, 2008 (external link) – National SMART Grant Pell Grant warning message
- June 13, 2008 (external link) – ACG and SMART grant maximum award amounts for the 2008/2009 award year
- Sept. 12, 2007 (external link) – E-mail address change for HERA questions
- Aug. 18, 2006 (external link) – Notice of Negotiated Rulemaking
- June 30, 2006 (external link) – Final 2006/07 drug worksheets
- June 30, 2006 (external link) – HERA operational implementation guidance: return to Title IV funds worksheets
- June 26, 2006 (external link) – FFELP and William D. Ford Consolidation Loans
- June 23, 2006 (external link) – HERA operational implementation guidance: direct PLUS Loan for graduate and professional students
Technical Updates and Newsletters
- NSLDS Lender Manifest Program File Specifications (external link)
- NSLDS Newsletter #13 – June 2006 (external link)
- GA-2007-01 Technical Update (external link) – Phase II HERA Updates
- GA-2006-02 Reference Materials (external link) – HERA and various topics
Dear Colleague Letters
- GEN-08-09 (external link) – List of eligible majors for the 2008/2009 award year SMART Grant Program
- GEN-08-04/FP-08-04 (external link) – Announces aggregate loan limit increase for certain graduate and professional students in approved health profession programs
- GEN-07-03/FP-07-07 (external link) – Consolidation loan issues update
- FP-07-02 (external link) – Revised promissory note addendum and plain language disclosure for FFELP Stafford loans
- FP-07-01 (external link) – FFELP loans eligible for 9.5 percent minimum special allowance rate
- GEN-06-21/FP-06-17 (external link) – THEEA Public Law 109-292
- GEN-06-20/FP-06-16 (external link) – Consolidation loan issues update
- GEN-06-19 (external link) – Agreements between higher education public institutions and vocational rehabilitation agencies
- GEN-06-18 (external link) – Implementation of "Academic Year" definition in the ACG and SMART Grant Programs
- FP-06-15 (external link) – Payment of special allowance on loans made or acquired with funds from a tax-exempt obligation
- GEN-06-17 (external link) – Institutional accreditation for distance learning programs
- GEN-06-15 (external link) – Revised list of eligible majors for the SMART Grant Program
- GEN-06-13/FP-06-13 (external link) – Teacher Loan Forgiveness application and forbearance forms
- FP-06-12 (external link) – Revised addendum for federal consolidation loan program application and promissory note
- GEN-06-12/FP-06-11 (external link) – FFELP and Direct Consolidation loan program changes by the Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery, 2006
- GEN-06-11 (external link) – HERA change notification to foreign schools and provides revised FFELP reporting requirements
- GEN-06-10 (external link) – Guidance HERA changes related to estimated financial assistance, cost of attendance, expected family contribution calculations and student eligibility
- FP-06-10 PDF - Special allowance payments for FFELP Plus loans
- ANN-06-05 (external link) – HERA training opportunities
- FP-06-09 (external link) – Lender options for determining Federal Consolidation Loan interest rates as of July 1, 2006
- FP-06-08 (external link) – Approval of FFELP Stafford PLUS MPNs
- FP-06-07 DOC - GAFR reporting changes for guaranty agencies
- GEN-06-08 (external link) – Implementation guidance on ACG and SMART grant programs
- GEN-06-07 (external link) – Notification and guidance to help those affected by Hurricanes Katrina and Rita
- GEN-06-06 (external link) – List of eligible majors for the SMART Grant Program
- GEN-06-05 (external link) – Changes made by HERA to student and institutional eligibility, and student assistance general provisions
- FP-06-05 (external link) – Promissory note addenda, revised Plain Language Disclosures and guidance on awarding PLUS Loans to graduate and professional students
- GEN-06-04 (external link) – ACG and SMART grant programs
- FP-06-04 (external link) – Lender reporting changes
- FP-06-03 (external link) – Confirms April 1, 2006, enforcement of the single holder rule in FFELP consolidation loans
- GEN-06-03/FP-06-02 (external link) – Correction to GEN-06-02/FP-06-01
- GEN-06-02/FP-06-01 (external link) – Enactment of the HERA