Detailed Summary

College Cost Reduction and Access Act Technical Amendments of 2007 - Makes technical changes to amendments the College Cost Reduction and Access Act of 2007 (the Act) made to the Higher Education Act of 1965 (HEA).

Ensures that mandatory Pell grant funding made available for any fiscal year by such Act remains available for the succeeding fiscal year (thus, for the full Pell grant award year).

Specifies the untaxed income and benefits which the Act excluded from the list of untaxed income and benefits considered in federal student need analyses (thereby, specifically excluding them from such analyses).

Clarifies that students who were orphans, wards of the court, or in foster care when they were 13 or older are independent for federal student aid purposes.

Provides that for married borrowers who file separate tax returns, income-based loan repayments under the HEA shall be determined solely on the basis of their individual student loan debt and adjusted gross income.

Ensures that National Guard members who serve full-time are eligible for the student loan deferment the Act provides to other military personnel for 13 months after the conclusion of active duty service.

Moves the Act's funding program for minority-serving institutions from title IV (Student Assistance) to title III (Institutional Aid) of the HEA.

Status of the Legislation

Latest Major Action: 11/14/2007: Referred to Senate committee. Status: Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Points in Favor

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Points Against

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