National Student Loan Reform Act

[AI summary unavailable — showing source text] National Student Loan Reform Act - Declares the purpose of this Act to be to: (1) ensure capital availability for student loans by strengthening the campus-based direct loan program; (2) adjust repayment schedules, and otherwise improve collection procedures, to make repayment sensitive to ability to repay and to reduce the default rate; and (3) guarantee loans to eligible borrowers so as to facilitate providing the expected family contributions (or, in the case of independent students, the expected self-help contribution) to the cost of higher education. Amends the Higher Education Act of 1965 to direct the Student Loan Marketing Association to enter into agreements with eligible institutions for making low-interest loans to student directly through such institutions. Sets forth the terms of such agreement. Stipulates that: (1) the conditions of such loans shall be determined by the institution, subject to any requirements or limitations prescribed by the Association; (2) the amount of such loans shall equal the cost of attendance minus any scholarships or other loans, the expected family income or self-help contribution, and any other Federal assistance; (3) such loans will be ma…