Higher Education Amendments of 1981

[AI summary unavailable — showing source text] Higher Education Amendments of 1981 - Amends the Higher Education Act of 1965 to limit the amount of any Federally-insured student loan made after June 30, 1981. Sets similar limits on loans insured under State or nonprofit private institutional student loan programs which receive Federal interest subsidy payments. Applies provisions for need analysis to such loans. Repeals provisions which counted specified student loans as part of the expected family contribution for purposes of other forms of student assistance. Permits loans to parents to be counted as part of the student's expected family contribution in the determination of need for all forms of student assistance under such Act. Eliminates the program of Federal interest subsidy payments for student loans. Eliminates payments to institutions to cover administrative costs of such program and administrative costs of the program of loans to parents. Increases the maximum repayment period for loans to parents of dependent students from ten years to 20 years. Limits the interest rate for such loans to a rate set by the Secretary of the Treasury, considering current market yields on outstanding U.S. marketable obligations of compa…