Higher Education Simplification and Deregulation Act of 2005 - Amends Higher Education Act of 1965 to revise requirements relating to: (1) student access to financial aid; and (2) regulating student aid programs of institutions of higher education (IHEs).
Provides for: (1) simplifying the Free Application for Federal Student Aid in an EZ FAFSA form, as well as electronic applications, and reapplications; (2) a system of early financial aid information; (3) revised processes for students with special circumstances; (4) eligibility verification; (5) year-round Pell Grants; (6) flexible loan limits for year-round study; (7) an annual listing of IHEs that are best buys in specified categories; (8) eliminating requirements to demonstrate financial need for certain types of graduate education assistance; (9) electronic voter registration; (10) review of regulatory and reporting requirements for student financial aid programs; (11) developing different environmental, health, and safety standards for research and teaching laboratories and facilities at IHES than for industrial facilities; (12) accelerated negotiated rulemaking; (13) compliance and master calendars; (14) exempting nonprofit IHEs from certain default management plan and eligibility and certification procedures; (15) renewing provisions relating to loan disbursement; and (16) IHE foreign gift or contract disclosure reports to be made available to the public rather than filed with the Secretary of Education.
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