H.R. 4035 would study, pilot, and implement a comprehensive, structural, market-based reform to the Federal Family Education Loan Program to reduce costs to taxpayers and improve program efficiency.

== Detailed Summary ==

<summary>
(Log in to edit Student Loan Auction Market Act - Directs the wikiSecretary of Education (Secretary) and the Secretary of the Treasury to conduct a planning study of alternative market-based mechanisms for setting lenders' yields on Federal Family Education Loans under part B of title IV of the Higher Education Act of 1965.

Requires such study to be followed by a limited two-year pilot program testing the mechanisms which the study finds most promising in ensuring loan availability, minimizing administrative complexity, and reducing federal costs. Allows the firstSecretary to provideimplement on a detailed summaryprogram-wide basis the auction-based system proven to satisfy such criteria, after an independent evaluation by the Government Accountability Office (GAO) of the bill!)pilot program, as well as the Competitive Loan Auction Pilot program established under the College Cost Reduction and Access Act.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 10/31/2007: Referred to House committee. Status: Referred to the House Committee on Education and Labor.
</status>

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== Points in Favor ==

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== Points Against ==

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