Bipartisan Student Loan Certainty Act of 2013

Fact Sheet API

Bill Number

HR 1911

Introduced

May 9, 2013

Latest Action

Became Public Law No: 113-28.

Sponsor

Cosponsors

Topics

Academic performance and assessments Advisory bodies Budget deficits and national debt Congressional oversight Consumer affairs Education Government information and archives Government lending and loan guarantees Government studies and investigations Higher education Interest, dividends, interest rates Right of privacy Student aid and college costs Wages and earnings

Full Text

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Votes

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.

Actions

Aug 9, 2013

Became Public Law No: 113-28.
Aug 9, 2013

Signed by President.
Aug 1, 2013

Presented to President.
Jul 31, 2013

Motion to reconsider laid on the table Agreed to without objection.
Jul 31, 2013

On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 392 - 31 (Roll no. 426). (text as House agreed to Senate amendment: CR H5214-5215)
Jul 31, 2013

Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by the Yeas and Nays: (2/3 required): 392 - 31 (Roll no. 426).(text as House agreed to Senate amendment: CR H5214-5215)
Jul 31, 2013

Considered as unfinished business. (consideration: CR H5240-5241)
Jul 31, 2013

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the chair announced that further proceedings on the motion would be postponed.
Jul 31, 2013

DEBATE - The House proceeded with forty minutes of debate on the motion to agree in the Senate amendment to H.R. 1911.
Jul 31, 2013

Mr. Kline moved that the House suspend the rules and agree to the Senate amendment. (consideration: CR H5214-5221)
Jul 24, 2013

Message on Senate action sent to the House.
Jul 24, 2013

Passed Senate, under the order of 7/23/2013, having achieved 60 votes in the affirmative, with an amendment by Yea-Nay Vote. 81 - 18. Record Vote Number: 185. (text: CR S5894)
Jul 24, 2013

Passed/agreed to in Senate: Passed Senate, under the order of 7/23/2013, having achieved 60 votes in the affirmative, with an amendment by Yea-Nay Vote. 81 - 18. Record Vote Number: 185.(text: CR S5894)
Jul 24, 2013

Measure laid before Senate by unanimous consent. (consideration: CR S5863-5894)
Jul 18, 2013

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 139.
Jul 17, 2013

Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Jun 3, 2013

Received in the Senate.
May 23, 2013

Motion to reconsider laid on the table Agreed to without objection.
May 23, 2013

On passage Passed by recorded vote: 221 - 198 (Roll no. 183).
May 23, 2013

Passed/agreed to in House: On passage Passed by recorded vote: 221 - 198 (Roll no. 183).
May 23, 2013

On motion to recommit with instructions Failed by the Yeas and Nays: 194 - 223 (Roll no. 182).
May 23, 2013

The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H2938)
May 23, 2013

DEBATE - The House proceeded with 10 minutes of debate on the Sinema motion to recommit with instructions pending a reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment adding a new section pertaining to protecting students from teaser interest rates that lead to higher long-term costs. Subsequently, the reservation was removed.
May 23, 2013

Ms. Sinema moved to recommit with instructions to Education and the Workforce. (consideration: CR H2937-2939; text: CR H2937)
May 23, 2013

The previous question was ordered pursuant to the rule. (consideration: CR H2937)
May 23, 2013

DEBATE - The House proceeded with one hour of debate on H.R. 1911.
May 23, 2013

Rule provides for consideration of H.R. 1911 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments.
May 23, 2013

Considered under the provisions of rule H. Res. 232. (consideration: CR H2926-2940; text of amendment in the nature of a substitute: CR H2927)
May 23, 2013

Rule H. Res. 232 passed House.
May 22, 2013

Rules Committee Resolution H. Res. 232 Reported to House. Rule provides for consideration of H.R. 1911 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments.
May 20, 2013

Placed on the Union Calendar, Calendar No. 57.
May 20, 2013

Committee on Budget discharged.
May 20, 2013

Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 113-82, Part I.
May 16, 2013

Committee Consideration and Mark-up Session Held.
May 16, 2013

Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 13.
May 9, 2013

Referred to the Committee on Education and the Workforce, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 9, 2013

Introduced in House

Amendments

Related Bills