Recently, there have been a number of bills issued and proposals
made as the U.S. Congress begins the process of reauthorizing of
the Higher Education Act ("HEA"). Although a final
reauthorization bill is not anticipated until 2015, and its
substance may depend in large part on whether or not a change in
party control occurs in either chamber, the recent activity in both
the Senate and the House of Representatives indicates the most
significant areas of focus. Senator Tom Harkin (D-IA), Chairman of
the Senate Health, Education, Labor and Pensions ("HELP")
Committee has introduced one comprehensive bill, whereas the House
Committee on Education and the Workforce, under the leadership of
Representative John Kline (R-MN) has considered a number of smaller
bills that address specific aspects of the HEA. In addition, there
is a bipartisan effort underway in the Senate to provide more
simplicity in the financial aid process and transparency for
student borrowers, which may
