A renewal of the primary law governing colleges, universities and federal financial aid will not come to the floor in either chamber until after the March recess.

Lead Senate sponsor Edward M. Kennedy , D-Mass., said Wednesday he and House counterpart George Miller , D-Calif., hope to have compromise legislation ready sometime after the two-week recess at the end of March.

Members have been informally negotiating the House and Senate bills since the House passed its measure 354-58 on Feb. 7. The Senate passed its higher education legislation 95-0 on July 24. The underlying law has not been fully renewed in 10 years.

The primary sticking point, according to Kennedy, is House bill language that would penalize states for lowering their commitment to higher education.

While Miller toned down the language — dubbed “maintenance of effort” — when it was on the House floor by exempting funds that are spent on research or capital improvement, the National Governors Association and the National Conference of State Legislatures continue to lobby hard against it.

Kennedy said House members are passionate about the provision, but the Senate is concerned it could hurt students twice by their receiving less state money and subsequently losing federal low-income assistance.

Because of the delay in reaching a compromise, Congress will have to clear yet another extension of the law; the latest extension, the third in this Congress, expires March 31.

Both bills would increase the amount of information schools and lenders must provide students — including up-front disclosure of loan rates and terms and data on total school costs — and would bar lenders from giving schools financial aid funds or any other perks to get on a “preferred lender” list.

Both measures also would create a “higher education price index” that would allow parents and students to compare tuition increases over time. Schools raising tuition sharply would be placed on “watch lists.”