Texas House Bill HB2911

Texas 2011 - 82nd Regular

• Out of House Committee: 4/26/11
• Voted on by House: 5/4/11
• Out of Senate Committee: 5/19/11
• Voted on by Senate: 5/23/11
• Governor Action: 6/17/11
• Refer: 5/5/11
• Report Pass: 5/19/11
• Enrolled: 5/24/11
• Passed: 6/17/11

Caption

Relating to guaranteed student loans and alternative education loans.

Impact

This bill is set to enhance the capacity of qualified nonprofit corporations to provide financial assistance for student loans by enabling them to issue revenue bonds secured by the revenues of guaranteed and alternative loans. By facilitating easier funding routes for education, the bill could expand access to educational financing for residents and students attending accredited institutions within Texas. It is expected that this will have a positive impact on student enrollment and retention in higher education institutions across the state.

Summary

House Bill 2911 aims to modify regulations surrounding guaranteed student loans and alternative education loans in Texas. The legislation specifies the powers of authorities regarding issuing revenue bonds for the purpose of financing these loans. It emphasizes the role of nonprofit corporations in the administration of the loans and establishes guidelines for the acquisition and servicing of education loans, making provisions that ensure compliance with both state and federal laws.

Contention

Notable points of contention about HB2911 center around the balance of authority between state and nonprofit organizations in administering student loans. Critics argue that a shift in responsibilities may lead to inconsistencies in loan availability based on geographical location or other criteria. Some stakeholders worry that prioritizing certain areas may adversely affect students in less targeted regions in terms of their access to educational financing options. Additionally, there may be concerns about the implications of allowing nonprofit corporations substantial control over student loan disbursement conditions.