S. 2834 · 112th Congress
Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BrownSponsorNo cosponsors.
Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students…
What it does: CRS summary · Introduced in Senate · May 7, 2012
Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2013.
Improper Payments Elimination and Recovery Improvement Act of 2012 - Requires the Director of the Office of Management and Budget (OMB) to: (1) identify, on an annual basis, a list of high-priority federal programs for greater levels of oversight and review of improper payments; (2) coordinate with agencies responsible for administering high-priority programs to establish semi-annual or quarterly targets and actions for reducing improper payments; and (3) provide guidance to agencies for improving estimates of improper payments.
Requires federal agencies to: (1) make quarterly reports to their Inspectors General on any high-dollar improper payments identified by such agencies, and (2) review prepayment and preaward procedures and available databases to determine program or award eligibility and prevent improper payments before releasing any federal funds. Establishes a Do Not Pay List based on information from databases maintained by the federal government, including the database of the Social Security Administration (SSA) reporting deaths of Social Security recipients.
Requires the Director to: (1) determine the current and historical rates and amounts of recovery of improper payments and targets for recovering improper payments, and (2) establish a plan for at least 10 Recovery Audit Contracting programs to identify and recover overpayments and underpayments in 10 agencies.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012
Latest action (May 7, 2012): Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Education · Origin: Senate · Introduced: May 7, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.