Reauthorization of the Higher Education Act, after multiple temporary extensions, is nearly complete. The House passed its version in February (the Senate passed its version, S. 1642 in summer of 2007). The bills are currently in conference being reconciled. As of the beginning of May, the bill was anticipated to be finished by the Memorial Day recess.
The legislation raised the Pell Grant ceiling and continued to crack down on inappropriate institution-lender relationships. The Senate bill also addressed the 2007 tug-of-war over accreditation rules between the Department of Education and Congress and affirmed the need for institutional diversity of mission. The compromise legislation will likely divide appointments to the NACIQI among the House, the Senate, and the Dept. of Ed. Currently all appointments are made by the Secretary of Education, a process that has been frequently criticized. Additionally, it is likely that a number of new reporting requirements will become law in order to create rankings regarding tuition increases and other cost concerns.