H.R. 3530: Flight Education Access Act

This bill, known as the Flight Education Access Act, proposes to amend the Higher Education Act of 1965 primarily to increase loan limits for students enrolled in undergraduate flight education and training programs. The key aspects of the bill include:

Increasing Loan Limits

The bill specifies new loan limits for Federal Direct Stafford Loans and Federal Direct Unsubsidized Stafford Loans for students in eligible flight education programs. The proposed loan limits vary based on the student's progress in the program:

• For dependent students:
  • Up to $20,500 for those who have not completed the first year.
  • Up to $31,500 for those who have completed the first year.
  • Up to $32,500 for those who have completed the first two years.
  • Up to $22,500 for those who have completed three years.
• For independent students:
  • Up to $24,500 for those who have not completed the first year.
  • Up to $35,500 for those who have completed the first year.
  • Up to $37,500 for those who have completed two years.
  • Up to $27,500 for those who have completed three years.

Defining Eligible Programs

The bill defines an "eligible undergraduate flight education and training program" as one that offers training for a commercial pilot certificate and meets specific completion rate requirements after three years of data collection. Programs will need to maintain a minimum completion rate to qualify for the increased loan limits.

Loan Disclosure Requirements

Before disbursing loans, educational institutions must provide students with detailed information about the loans, including:

• The principal amount and interest rate.
• The total number of required payments and when repayment begins.
• The estimated balance owed at the beginning of repayment.
• The total cost of the loan over its lifespan, including any fees.

Data Collection and Reporting

The Secretary of Education is required to collect data annually to assess the completion rates of flight education programs. This includes tracking the number of students enrolled and those who successfully earn pilot certificates. The results will be used to improve program effectiveness and may also influence continued loan eligibility for institutions.

GAO Review and Recommendations

The Government Accountability Office (GAO) will evaluate the implementation of this Act within two years, including the number of institutions offering programs, enrollment statistics, and students’ participation in loan programs. They will also provide recommendations for improvements.

Funding Provisions

The bill authorizes the appropriation of $3,000,000 annually from 2025 to 2035 to support the implementation of its provisions.

Rule of Construction

The bill states that it shall not repeal or alter any existing pilot training provisions under current law.

Relevant Companies

None found.