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NASFAA
1101 Connecticut Avenue, NW, Suite 1100
Washington, DC 20036-4303

Phone: 202-785-0453
Fax: 202-785-1487
Web@NASFAA.org

The Higher Education Reconciliation Act of 2005 (HERA), Public Law 109-171, was signed into law on February 8, 2006. Major highlights of the law are:
    • Reauthorized Student Loans Through 2012
    • Created Academic Competitiveness and National SMART Grants (later modified by the Ensuring Continued Access To Student Loans Act)
    • Increased FFEL and DL Loan Limits
    • Reduced Loan Origination Fees
    • Provided for Consistent Repayment Plans
    • Streamline FAFSA
    • Need Analysis Formula
    • Reduced Insurance
    • PLUS Interest Rate
    • 'Negative SAP'
    • College Access Initiative

NASFAA News and Resources

Department of Education News and Resources

Statutory Language

Resources for Students


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