S. 897 · 113th Congress
Bank on Students Loan Fairness Act
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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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WarrenSponsor12 cosponsors · 11 D, 1 I
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Boxer
JM
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Merkley
JR
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Rockefeller
MB
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Begich
ML
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Landrieu
CM
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McCaskill
BS
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Schatz
RB
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Blumenthal
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Franken
BS
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Sanders
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Markey
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Mikulski0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Bank on Students Loan Fairness Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Board of Governors of the Federal Reserve System to provide the Secretary of Education, from the combined earnings of the Federal Reserve System, with the amount the Secretary determines to be reasonably necessary to award Direct…
What it does: CRS summary · Introduced in Senate · May 8, 2013
Bank on Students Loan Fairness Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Board of Governors of the Federal Reserve System to provide the Secretary of Education, from the combined earnings of the Federal Reserve System, with the amount the Secretary determines to be reasonably necessary to award Direct Stafford Loans during the award year beginning July 1, 2013, to all eligible students attending participating institutions of higher education selected by the Secretary.
Prohibits appropriated funds from being used for Direct Stafford Loans made during that period.
Sets the interest rate on Direct Stafford Loans first disbursed on or after July 1, 2013, and before July 1, 2014, at the primary credit rate charged by the Federal Reserve banks on July 1, 2013.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bank on Students Loan Fairness Act
Latest action (May 8, 2013): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Education · Origin: Senate · Introduced: May 8, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.