H.R.1911 - Bipartisan Student Loan Certainty Act of 2013

To amend the Higher Education Act of 1965 to establish interest rates for new loans made on or after July 1, 2013. view all titles (8)

All Bill Titles

  • Short: Bipartisan Student Loan Certainty Act of 2013 as enacted.
  • Official: To amend the Higher Education Act of 1965 to establish interest rates for new loans made on or after July 1, 2013. as introduced.
  • Short: Smarter Solutions for Students Act as introduced.
  • Short: Smarter Solutions for Students Act as reported to house.
  • Short: Improving Postsecondary Education Data for Students Act as passed house.
  • Short: Smarter Solutions for Students Act as passed house.
  • Official: To amend the Higher Education Act of 1965 to establish interest rates for new loans made on or after July 1, 2013, to direct the Secretary of Education to convene the Advisory Committee on Improving Postsecondary Education Data to conduct a study on improvements to postsecondary education transparency at the Federal level, and for other purposes. as amended by house.
  • Short: Bipartisan Student Loan Certainty Act of 2013 as passed senate.

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Bill’s Views

  • Today: 5
  • Past Seven Days: 50
  • All-Time: 4,974
 
Introduced
 
House
Passed
 
Senate
Passed
 
President
Signed
 

 
05/09/13
 
05/23/13
 
07/24/13
 
08/09/13
 

 

Latest Vote

Result: Passed - July 31, 2013

Roll call number 426 in the House

Question: On Motion to Suspend the Rules and Concur in the Senate Amendment: H R 1911 Smarter Solutions for Students Act

 

OpenCongress Summary

Sets guidelines and caps for interest rates on student loans issued by the government.
OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the "Official Summary" below.

Official Summary

Bipartisan Student Loan Certainty Act of 2013 - (Sec. 2) 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

Official Summary

Bipartisan Student Loan Certainty Act of 2013 -

(Sec. 2)

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%.

(Sec. 3)

Provides that the budgetary effects of this Act shall not be entered on specified PAYGO scorecards.

(Sec. 4)

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.

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Organizations Supporting H.R.1911

  • Rock the Vote
  • American Council on Education
  • Association of American Universities
  • American Association of Collegiate Registrars and Admissions Officers
  • American Association of Community Colleges
  • Association of Community College Trustees
  • ...and 6 more. See all.

Organizations Opposing H.R.1911

  • FreedomWorks
  • National Education Association
  • Heritage Action for America


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