College Cost Reduction and Access Act (CCRAA)

The College Cost Reduction and Access Act (CCRAA) was signed by President Bush on Sept. 27, 2007.

CCRAA addresses interest rates, reduction of lender SAP, definition of eligible not-for-profit-holder, exceptional performer, reduction of lender insurance, increased loan origination fee from lenders, competitive loan auction pilot program for FFELP Parent PLUS loans, loan forgiveness for public service employees, Income-Based Repayment (IBR), economic hardship deferment definition, military deferment, TEACH Grants, College Access Challenge Grants, guaranty agency collection retention and guaranty agency account maintenance fees.

• Federal Documents
• Industry Resources
• Training Presentations

Federal Documents

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

CCRAA Public Law 110-084/H.R. 2669 Bill text (PDF)
CCRAA Technical Corrections Public Law 110-153/S. 2371 Bill Text (PDF)
Federal Register notices
- Oct. 23, 2008, Final Regulations for HEOA & CCRAA (PDF)
- July 1, 2008, CCRAA Student Loan Issues NPRM (PDF) – Proposed amendments to regulations of the Perkins, FFELP and Direct Loan Programs needed to implement provisions of the HEA, as amended by the CCRAA
Congressional Budget Office (CBO) Cost Estimate for H.R. 2669 (PDF)
Conference Report and Joint Explanatory Statement of the CCRAA (PDF)
Dear Colleague Letters
- GEN-08-07 - Clarification about how institutions establish eligibility to participate in the TEACH Grant Program
- FP-08-02 - Revised promissory note addenda and Plain Language Disclosures for Federal Stafford, PLUS and Consolidation loans
- GEN-08-01/FP-08-01 - CCRAA changes to Title IV loan and grant programs
- FP-07-12 - Guidance about eligible not-for-profit holders for purposes of SAP billings
- FP-07-11 - Guidance to lenders about changes to the LaRS
NSLDS Technical Updates
- GA-08-03, CCRAA Update #2 - Changes allow for the reporting of a new Deferment Type Code for military personnel called to active duty (MR)
- GA-08-02, CCRAA Update #1 - Changes allow for the reporting of a new Deferment Type Code for military personnel called to active duty (MR), change in requirements for the Military Operations (MO) Deferment Type Code and an Enrollment Reporting reminder

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Industry Resources

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

OGSLP resources
- CCRAA Impact Summary (PDF) (updated 2/18/2008)
- OGSLP's CCRAA FAQs (PDF) (updated 1/14/2008)
NCHELP resources
- Economic Hardship Deferment Q&A (PDF)
- Testimony of Board Chair Mary Mowdy (PDF)
- Sept. 10, 2007, News Release – Statement about passage of H.R. 2669 (PDF)
- CCRAA Summary (PDF)
- Draft side-by-side analysis of the CCRAA (DOC) (updated 2/15/2008)
- Summary of Higher Education Access Act of 2007 (PDF) – The Senate passed S. 1762 on July 20, 2007; the bill is the Senate version of the budget reconciliation measure required under 2007's budget resolution.
- CCRAA Blacklines
  - CCRAA with HEA Title IV — Parts A, C, E, F, H and J, and Title VII Part E (PDF)
  - CCRAA with HEA Title IV, Parts B, D, G and I (PDF)

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Training Presentations

OGSLP hosted two “College Cost Reduction and Access Act (CCRAA) and New Loan Provisions” training sessions in November 2007. Workshop materials and resources, including the PowerPoint presentation and handouts, are available below.

CCRAA PowerPoint Presentation (PDF)
Final Regulations PowerPoint Presentation (PDF)

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College Cost Reduction and Access Act (CCRAA)

Federal Documents

Industry Resources

Training Presentations

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