On September 27, 2007, President Bush signed into law the College Cost Reduction and Access Act (CCRAA) (Pub.L.110-84). The Act reduces payments to lenders and guaranty agencies participating in the Federal Family Education Loan (FFEL) Program, authorizes increases in the amount of Federal Pell Grants, establishes the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program, lowers the interest rates on some student loans, and expands loan repayment options for student borrowers. The Act also creates a new loan forgiveness plan for public service employees and directs the Secretary to undertake a pilot program for auctioning the rights to originate FFEL parent PLUS loans.

Summary and Language

• NASFAA's Summary of the College Cost Reduction and Access Act

• U.S. Dept. of Education's Summary of CCRAA
• Text of the Law

NASFAA News and Resources

• Using Federal Tax Returns in Need Analysis (updated for CCRAA, March 2009)

• Helping Foster Youth and Wards of the Court Complete the FAFSA March 2009

• How College And Financial Aid Administrators Can Help Youth From Foster Care (NASFAA Audio Podcast Series)

• Homeless Youth - Breaking the Cycle Through Postsecondary Education NASFAA Conference presentation (July 2008)

• TEACH Grant Resource Page

• Latest CCRAA News from NASFAA

• Media Coverage

More CCRAA Resources

• IBRinfo.org created by the Project on Student Debt to help student loan borrowers learn about Income-Based Repayment and Public Service Loan Forgiveness

• NCHELP's Income-Based Repayment Webinar Series Starts in April 2009

• NCHELP's Introduction to IBR for Schools Presentation April 9, 2009

Department of Education Guidance

• Dear Colleague Letters

• Electronic Announcements

• Federal Registers

• Negotiated Rulemaking