Page:United States Statutes at Large Volume 112 Part 2.djvu/921

 PUBLIC LAW 105-244 —OCT. 7, 1998 112 STAT. 1805 the 90-day London Interbank Offered Rate (in this section referred to as "LIBOR") in terms of the following: (1) The historical liquidity of the market for each, and a historical comparison of the spread between: (A) the 30- day and 90-day commercial paper rate, respectively, and the 91-day Treasury bill rate; and (B) the spread between the LIBOR and the 91-day Treasury bill rate. (2) The historical volatility of the rates and projections of future volatility. (3) Recent changes in the liquidity of the market for each such instrument in a balanced Federal budget environment and a low-interest rate environment, and projections of future liquidity assuming the Federal budget remains in balance. (4) The cost or savings to lenders with small, medium, and large student loan portfolios of basing lender yield on either the 30-day or 90-day commercial paper rate or the LIBOR while continuing to base the borrower rate on the 91-day Treasury bill, and the effect of such change on the diversity of lenders participating in the program. (5) The cost or savings to the Federal Government of basing lender yield on either the 30-day or 90-day commercial paper rate or the LIBOR while continuing to base the borrower rate on the 91-day Treasury bill. (6) Any possible risks or benefits to the student loan programs under the Higher Education Act of 1965 and to student borrowers. (7) Any other areas the Comptroller General and the Secretary of Education agree to include. (b) REPORT REQUIRED.— Not later than 6 months after the Deadline, date of enactment of this Act, the Comptroller General and the Secretary shall submit a final report regarding the findings of the study group to the Committee on Education and the Workforce of the House of Representatives and the Committee on Labor and Human Resources of the Senate. SEC. 803. STUDENT-RELATED DEBT STUDY REQUIRED. 20 USC 1015 (a) IN GENERAL.— The Secretary of Education shall conduct a study that analyzes the distribution and increase in studentrelated debt in terms of— (1) demographic characteristics, such as race or ethnicity, and family income; (2) type of institution and whether the institution is a public or private institution; (3) loan source, such as Federal, State, institutional or other, and, if the loan source is Federal, whether the loan is or is not subsidized; (4) academic field of study; (5) parent loans, and whether the parent loans are federally guaranteed, private, or property-secured such as home equity loans; and (6) relation of student debt or anticipated debt to— (A) students' decisions about whether and where to enroll in college and whether or how much to borrow in order to attend college; (B) the length of time it takes students to earn baccalaureate degrees;

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