12 2 STA T .348 8 PUBLIC LA W 11 0– 31 5— AU G .14 , 2008 thisAc t ,orS t a t e ori n stit u tiona l stu d ent f inancial assist - ance, in p lace of, or in addition to, a pri v ate education loan
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‘ (B) the applicant is encoura g ed to discuss the avail- a b ilit y of F ederal, State, and institutional student financial assistance w ith financial aid officials at the applicant ’ s institution of higher education; ‘‘( C ) a private education loan m ay affect the applicant’s eligibility for free or low-cost Federal, State or institutional student financial assistance; and ‘‘( D ) the information that the applicant is re q uired to provide on the form is available from officials at the financial aid office of the institution of higher education; ‘‘( 4 ) include a place to provide information on — ‘‘(A) the applicant’s cost of attendance at the institution of higher education, as determined by the institution under P art F of title IV
‘‘(B) the applicant’s e x pected family contribution, as determined under Part F of title IV, as applicable, for students who have completed the free application for Fed- eral student aid; ‘‘(C) the applicant’s estimated financial assistance, as determined by the institution, in accordance with title IV, as applicable; ‘‘(D) the difference between the amounts under sub- paragraphs (A) and (C), as applicable; and ‘‘( E ) the sum of the amounts under subparagraphs (B) and (D), as applicable; and ‘‘( 5 ) include a place for the applicant’s signature, in written or electronic form . ‘‘(b) LIM I TON LI AB I L IT Y .— N othing in this section shall be con- strued to create a private right of action against an institution of higher education with respect to the form developed under sub- section (a).’’. SEC.102 2. AP P LI CA T I ON O F T RU T H IN LEN D IN G ACT TO ALL PRI V ATE EDUCATION LOANS. Section 10 4( 3 ) of the T ruth in Lending Act (15 U .S.C. 1 6 03(3)) is amended by inserting ‘‘and other than private education loans (as that term is defined in section 140(a))’’ after ‘‘consumer’’. Subti t leC— C o lle g e Af fo rda bilit y SEC. 10 3 1. CO M MUNIT Y REINVESTMENT ACT CREDIT FOR LO W- COST LOANS. (a) IN GE NE R AL.—Section 8 04 of the Community R einvestment Actof1 97 7(1 2 U.S.C. 2903) is amended by adding at the end the following new subsection
‘‘(d) LO W -CO S TE DUC ATION LOANS.—In assessing and ta k ing into account, under subsection (a), the record of a financial institu- tion, the appropriate Federal financial supervisory agency shall consider, as a factor, low-cost education loans provided by the financial institution to low-income borrowers.’’. (b) RE G ULATIONS RE Q UIRED.—Not later than 1 year after the date of enactment of this Act, each appropriate Federal financial supervisory agency shall issue rules in final form to implement 12USC 2 903note.
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