Page:United States Statutes at Large Volume 100 Part 2.djvu/483

 PUBLIC LAW 99-498—OCT. 17, 1986

100 STAT. 1585

(3) the appropriate response to economic, budgetary, demographic, and social changes which will require individuals, families, institutions of higher education, and government to plan and adapt to the future needs for student financial assistance for postsecondary education. Ob) ESTABLISHMENT OF THE COMMISSION.—(1) There is established as an independent agency in the executive branch a commission to be known as the National Commission on Responsibilities for Financing Postsecondary Education (hereafter in this section referred to as the "Commission"). (2) The Commission shall be composed of 9 members, 3 of whom shall be appointed by the President, 3 of whom shall be appointed by the Speaker of the House of Representatives, and 3 of whom shall be appointed by the majority leader of the Senate. The membership of the Commission shall provide expertise and experience in the provision and financing of postsecondary education, including student financial aid administrators, secondary school administrators, individuals skilled in education economics research, individuals having expertise in the development of standards and systems of need analysis for student assistance programs, and individuals with particular expertise in credit financing for postsecondary education. (c) DUTIES OF THE COMMISSION.—

(1) IN GENERAL.—The Commission shall study and investigate the extent to which— (A) there is a consistent and coherent Federal policy regarding the appropriate family role in financing the costs of postsecondary education for family members; (B) the current Federal laws and regulations promote the stated Federal policy; and (C) the extent to which State laws which remove parental responsibilities for children over 18 years of age conflict with Federal policy in this area. (2) REPORT AND RECOMMENDATIONS.—The Commission shall— (A) summarize the appropriate findings of the National Commission on Student Financial Assistance; (B) recommend to the Congress a comprehensive analysis on the extent to which a consensus exists regarding the appropriate role of the family in financing postsecondary education; and (C) to the extent that a consensus exists, recommend ..': changes in current law that would be required to achieve the desired Federal policy, including recommendations on Federal incentives to encourage families to plan and save for their financial responsibilities in financing postsecondary education for family members taking into account the needs of future generations. (d) SPECIFIC REQUIREMENTS.—In carrying out its responsibilities under subsection (c), the Commission shall make a study of the following areas: (1) NEED ANALYSIS.—

(A) The most appropriate mechanisms for measuring student and family ability to pay for postsecondary education. (B) The incentives and disincentives for family saving in existing need analysis systems. (C) The feasibility and impact of different need analysis systems £Uid eligibility formulas for determining student

State and local governments,

�