To amend title 10, United States Code, to expand the education loan repayment program for members of the Selected Reserve.

Includes within educational loans eligible for repayment by the Department of Defense (DOD) under the Selected Reserve education loan repayment program any educational loan made by a lender that is: (1) an agency or instrumentality of a state; (2) a financial or credit institution subject to examination and supervision by the United States or a state; (3) a pension fund approved by the Secretary of Defense; or (2) a nonprofit private entity designated and regulated by a state, and approved by the Secretary.

Makes officers (under current law, only enlisted personnel) eligible for such repayments.

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2195 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2195

  To amend title 10, United States Code, to expand the education loan 
         repayment program for members of the Selected Reserve.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 7, 2007

  Mr. Patrick J. Murphy of Pennsylvania (for himself and Mr. Walz of 
  Minnesota) introduced the following bill; which was referred to the 
                      Committee on Armed Services

_______________________________________________________________________

                                 A BILL


 
  To amend title 10, United States Code, to expand the education loan 
         repayment program for members of the Selected Reserve.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXPANSION OF EDUCATION LOAN REPAYMENT PROGRAM FOR MEMBERS OF 
              THE SELECTED RESERVE.

    (a) Additional Educational Loans Eligible for Repayment.--Paragraph 
(1) of subsection (a) of section 16301 of title 10, United States Code, 
is amended_
            (1) by striking ``or'' at the end of subparagraph (B);
            (2) by striking the period at the end of subparagraph (C) 
        and inserting ``; or''; and
            (3) by adding at the end the following new subparagraph:
            ``(D) any loan incurred for educational purposes made by a 
        lender that is_
                    ``(i) an agency or instrumentality of a State;
                    ``(ii) a financial or credit institution (including 
                an insurance company) that is subject to examination 
                and supervision by an agency of the United States or 
                any State;
                    ``(iii) a pension fund approved by the Secretary 
                for purposes of this section; or
                    ``(iv) a nonprofit private entity designated by a 
                State, regulated by that State, and approved by the 
                Secretary for purposes of this section.''.
    (b) Participation of Officers in Program.--Such subsection is 
further amended--
            (1) in paragraph (2)--
                    (A) by striking ``Except as provided in paragraph 
                (3), the Secretary'' and inserting ``The Secretary''; 
                and
                    (B) by striking ``an enlisted member of the 
                Selected Reserve of the Ready Reserve of an armed force 
                in a reserve component and military specialty'' and 
                inserting ``a member of the Selected Reserve of the 
                Ready Reserve of an armed force in a reserve component 
                and in an officer program or military specialty''; and
            (2) by striking paragraph (3).
    (c) Clerical Amendments.--
            (1) Section heading.--The heading of such section is 
        amended to read as follows:
``Sec. 16301. Education loan repayment program: members of Selected 
              Reserve''.
            (2) Table of sections.--The table of sections at the 
        beginning of chapter 1609 of such title is amended by striking 
        the item relating to section 16301 and inserting the following 
        new item:

``16301. Education loan repayment program: members of Selected 
                            Reserve.''.
                                 <all>