Bank on Students Loan Fairness Act
Latest action · Jul 8, 2013 Referred to the Subcommittee on Higher Education and Workforce Training.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 14, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 25
Members who signed on, in the order they did. Signatures ran from May 14, 2013 to Sep 15, 2014, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Barbara Lee | Original | May 14, 2013 |
| D-OR | Earl Blumenauer | Original | May 14, 2013 |
| D-MD | Elijah E. Cummings | Original | May 14, 2013 |
| D-NJ | Rush Holt | Original | May 14, 2013 |
| D-KY | John A. Yarmuth | May 16, 2013 | |
| D-CA | Maxine Waters | May 16, 2013 | |
| D-RI | David N. Cicilline | May 17, 2013 | |
| D-FL | Alan Grayson | May 20, 2013 | |
| D-MI | John Conyers, Jr. | May 20, 2013 | |
| D-NY | Nita M. Lowey | May 20, 2013 | |
| D-AZ | Raúl M. Grijalva | May 20, 2013 | |
| D-OR | Peter A. DeFazio | May 22, 2013 | |
| D-CO | Diana DeGette | Jun 3, 2013 | |
| D-MA | Joseph P. Kennedy III | Jun 3, 2013 | |
| D-MN | Keith Ellison | Jun 3, 2013 |
Actions 3
Everything that happened, newest first.
- Jul 8, 2013Referred to the Subcommittee on Higher Education and Workforce Training.
- May 14, 2013Introduced in House
- May 14, 2013Referred to the House Committee on Education and the Workforce.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 897 | Bank on Students Loan Fairness Act | Identical bill | May 8, 2013 |
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- May 14, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.