Government-Sponsored Enterprise Privatization Act of 1996

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Student Loan Marketing Association Title II: College Construction Loan Insurance Association Title III: General Provisions Relating to Student Assistance Programs Title IV: Repealers and Other Amendments Privatization Act of 1995 - Title I: Student Loan Marketing Association - Amends the Higher Education Act of 1965 (HEA) to provide for the reorganization of the Student Loan Marketing Association (Sallie Mae) through the formation of a holding company and the cessation of Federal sponsorship. Title II: College Construction Loan Insurance Association - Amends HEA to provide for the privatization and renaming of the College Construction Loan Insurance Association, and the cessation of Federal sponsorship. Title III: General Provisions Relating to Student Assistance Programs - Amends HEA to revise the definition of proprietary institution of higher education to require, for purposes of student aid program eligibility, that such an institution have at least 15 percent of its total institutional revenues from all sources, including contract training and revenue, that are not derived from HEA student aid funds, as certified by the institution's independent aud…