H.R. 3047 · 113th Congress
To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest…
Full title
To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PocanSponsor4 cosponsors · 4 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow a borrower of a loan under the William D. Ford Federal Direct Loan program to modify the interest rate on such a loan so that its interest rate is equal to the interest rate it would bear if first disbursed at the time of modification.
What it does: CRS summary · Introduced in House · Aug 2, 2013
Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow a borrower of a loan under the William D. Ford Federal Direct Loan program to modify the interest rate on such a loan so that its interest rate is equal to the interest rate it would bear if first disbursed at the time of modification.
Fixes that interest rate for the life of the loan, unless the borrower elects to modify it again.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.
Latest action (Sep 13, 2013): Referred to the Subcommittee on Higher Education and Workforce Training.
Policy area: Education · Origin: House · Introduced: Aug 2, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.