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The House and the Senate approved H.Rept. 111-89, the conference report to accompany S.Con.Res. 13, the Concurrent Resolution on the Budget for Fiscal Year 2010, on April 29, 2009. The FY2010 budget resolution includes reconciliation instructions directing the Senate Committee on Health, Education, Labor, and Pensions (HELP) and the House Committee on Education and Labor to report changes in laws within their jurisdictions to reduce the deficit by $1 billion for the period of fiscal year (FY) 2009 through FY2014. The reconciliation instructions for the House specifically direct the Committee on Education and Labor to report a bill that invests in education while reducing the deficit by $1 billion over the FY2009-FY2014 period. On July 21, 2009, the House Committee on Education and Labor marked up H.R. 3221, the Student Aid and Fiscal Responsibility Act of 2009; and on July 27, 2009, the committee reported H.Rept. 111-232 to accompany H.R. 3221. H.R. 3221 would terminate authority under the Higher Education Act (HEA) of 1965, as amended, to make loans under the Federal Family Education Loan (FFEL) program after June 2010. The Congressional Budget Office (CBO) estimates that this would reduce mandatory or direct spending by $41.8 billion over the FY2009-FY2014 ...