:: Higher Education Reconciliation Act of 2005 (HERA) ::

The Higher Education Reconciliation Act of 2005 (HERA), Title VIII of the Deficit Reduction Act (DRA), was signed by President Bush on Feb. 8, 2006.

HERA addresses correspondence courses, ACG and SMART Grant programs, loan limits, PLUS loans for graduate and professional students, PLUS loan interest rate, excess interest, special allowance PLUS loans, new military deferment, study abroad and foreign school disbursement, repayment plans, origination fees, cross-program consolidation, spousal consolidation loans; in-school consolidation, low-cohort school disbursement rules, school as lender, false certification, teacher loan forgiveness, tax exempt funds special allowance, reduction of insurance, federal default fee, exempt claims, exceptional performer insurance, default claims reinsurance, escrow agent, forbearance, VFA, Rehabilitation Default Reduction Program, account maintenance fee, academic year definition, student eligibility-fraud, student eligibility-drug related offenses, verification of IRS data, institutional refunds, leave of absence, college access initiative and wage garnishment.

Quick Content Links

Federal Documents

This list includes links to bill and law texts, Congressional reports, Dear Colleague Letters and the Federal Register.

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Industry Resources

This list includes links to impact summaries, side-by-side analysis, blacklines and other helpful tools developed by OCAP and our industry partners.

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Training Presentations

We hosted two HERA training sessions in April 2006. The workshop PowerPoint is available below.

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