S. 1334 · 113th Congress
Bipartisan Student Loan Certainty Act of 2013
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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.
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ManchinSponsor13 cosponsors · 4 D, 8 R, 1 I
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Alexander
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Burr
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Carper
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Coburn
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Durbin
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Harkin
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King
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Blunt
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McCaskill
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Enzi
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Heller
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Hoeven
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Isakson7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Bipartisan Student Loan Certainty Act of 2013 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to set the annual interest rate on Direct Stafford loans and Direct Unsubsidized Stafford loans issued to undergraduate students at the rate on high-yield 10-year Treasury notes plus 2.05%, but caps that rate at 8.25%.
What it does: CRS summary · Introduced in Senate · Jul 18, 2013
Bipartisan Student Loan Certainty Act of 2013 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to set the annual interest rate on Direct Stafford loans and Direct Unsubsidized Stafford loans issued to undergraduate students at the rate on high-yield 10-year Treasury notes plus 2.05%, but caps that rate at 8.25%.
Sets the annual interest rate on Direct Unsubsidized Stafford loans issued to graduate or professional students at the rate on high-yield 10-year Treasury notes plus 3.6%, but caps that rate at 9.5%.
Sets the annual interest rate on Direct PLUS loans at the rate on high-yield 10-year Treasury notes plus 4.6%, but caps that rate at 10.5%.
Limits the applicability of the preceding provisions to loans first disbursed on or after July 1, 2013.
Fixes the interest rate on Direct Stafford loans, Direct Unsubsidized Stafford loans, and Direct PLUS loans for the period of the loan.
Sets the annual interest rate on Direct Consolidation loans for which an application is received on or after July 1, 2013, at the weighted average of the interest rates on the loans consolidated, rounded to the nearest higher one-eighth of 1%.
Directs the Comptroller General (GAO) to conduct a study and report to Congress on the actual cost to the federal government of carrying out the federal student loan programs authorized under title IV of the HEA.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bipartisan Student Loan Certainty Act of 2013
Latest action (Jul 18, 2013): Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 142.
Policy area: Education · Origin: Senate · Introduced: Jul 18, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.