S. 1266 · 113th Congress
Refinancing Education Funding to Invest (REFI) for the Future Act of 2013
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
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
BrownSponsor4 cosponsors · 4 D
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Refinancing Education Funding to Invest (REFI) for the Future Act of 2013 - Directs the Secretary of the Treasury, upon determining that borrowers are unable to secure adequate credit accommodations with existing private education loans, to establish credit facilities to: (1) accommodate reasonable loan adjustments that reduce the likelihood that borrowers…
What it does: CRS summary · Introduced in Senate · Jun 27, 2013
Refinancing Education Funding to Invest (REFI) for the Future Act of 2013 - Directs the Secretary of the Treasury, upon determining that borrowers are unable to secure adequate credit accommodations with existing private education loans, to establish credit facilities to: (1) accommodate reasonable loan adjustments that reduce the likelihood that borrowers become delinquent or default on their loans, (2) benefit borrowers that are most likely to have private student debt service obligations that represent a disproportionate share of their income, and (3) ensure that borrowers pay lower interest rates that are commensurate with credit risk so that they can pursue more economically productive activities.
Requires the decision that borrowers are unable to secure adequate credit accommodations to be made by the Secretary jointly with the Secretary of Education and the Bureau of Consumer Financial Protection (CFPB).
Prohibits the establishment of such credit mechanisms from resulting in any net cost to the federal government.
Directs the Secretary of the Treasury to conduct a national awareness campaign to alert all private education loan borrowers who may benefit from those credit facilities or programs.
Terminates any activities initiated through such a credit facility three years after such facility is established or not later than five years after this Act's enactment.
Expresses the sense of the Congress that federal financial institutions and federally chartered private entities should consider the timely use of their available authorities to assist borrowers of private education loans in refinancing such loans in a manner that results in no increased costs to taxpayers.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Refinancing Education Funding to Invest (REFI) for the Future Act of 2013
Latest action (Jun 27, 2013): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Education · Origin: Senate · Introduced: Jun 27, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.