The U.S. House of Representatives passed the College Opportunity and Affordability Act last week, but without an amendment that would have provided bankruptcy rights to private student loan borrowers.
The final bill, which passed with a vote of 354-58, includes provisions that will aim to lower textbook prices and revise the Free Application for Federal Student Aid, as well as a provision that will require states to allocate a minimum amount of money to higher education.
An amendment to the bill written by Rep. Danny K. Davis (D-Ill.) would have allowed students to discharge their loans in bankruptcy after five years in repayment.
The U.S. Public Interest Research Groups, of which CalPIRG is the state's chapter, issued a statement that said it is "disappointed that the House chose to stand with big banks instead of students who fall victim to predatory private student loans."
The amendment failed 279-236.
The bill would require publishers to send more information about textbook revisions made between editions and other available formats, such as paperback or unbound.
Newer and more expensive textbook editions are often published with only minor changes from the previous edition.
"I think it's a really good idea that the government is trying to lower prices," said Chen Tian, a graduate student in industrial and systems engineering. "I've already spent a lot of money on books."
Under the bill, books and supplemental materials must also be sold unbundled, which could further decrease textbook prices.
The bill would also "work to make the FAFSA consumer-friendly" and "easy for students and parents to read and understand."
"The FAFSA is really confusing," said Tyler Prosser, a undecided freshman. "There's a lot of tax stuff that you need your parents to help with, so it's a joint process. I never know if I'm doing it right, so I would like them to make it easier."
The Bush administration issued a statement that said the new version would be more complex for some low-income families because of an added question about the income of dislocated workers.
The new processes would "develop streamlined reapplication forms and processes," according to the bill.
The bill would also require each state's funding for higher education to equal a minimum of the average of education funding from the last five years.
"This really is the first time in which the federal government has recognized that the states play the critical role in making college affordable," the Association of State Colleges and Universities said about the bill.
In addition to provisions that would make college more affordable for students, the bill also contains a provision backed by the entertainment industry.
The provision states that higher education institutions that take part in federal financial aid programs will develop "a plan for offering alternatives to illegal downloading" and "explore technology-based deterrents to prevent such illegal activity."
Last October, the Recording Industry Association of America sued 36 USC students for illegally sharing music online.
The Association of American Universities opposes this proposition; its officials say the plan is overly expensive and burdensome.
President Bush needs to approve the bill before it takes effect. The White House released a statement, which said it "strongly opposes" the bill, but has not threatened a veto.
