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.
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.
- IntroducedJul 18, 2013
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 13
Members who signed on, in the order they did. Signatures ran from Jul 18, 2013 to Jul 24, 2013, with 7 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| I-ME | Angus S. King Jr. | Original | Jul 18, 2013 |
| R-TN | Lamar Alexander | Original | Jul 18, 2013 |
| R-NC | Richard Burr | Original | Jul 18, 2013 |
| D-IL | Richard J. Durbin | Original | Jul 18, 2013 |
| D-DE | Thomas R. Carper | Original | Jul 18, 2013 |
| R-OK | Tom Coburn | Original | Jul 18, 2013 |
| D-IA | Tom Harkin | Original | Jul 18, 2013 |
| D-MO | Claire McCaskill | Jul 23, 2013 | |
| R-MO | Roy Blunt | Jul 23, 2013 | |
| R-NV | Dean Heller | Jul 24, 2013 | |
| R-ND | John Hoeven | Jul 24, 2013 | |
| R-GA | Johnny Isakson | Jul 24, 2013 | |
| R-WY | Michael B. Enzi | Jul 24, 2013 |
Actions 2
Everything that happened, newest first.
- Jul 18, 2013Introduced in Senate
- Jul 18, 2013Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 142.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1911 | Bipartisan Student Loan Certainty Act of 2013 | Related bill | Aug 9, 2013 |
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- Jul 18, 2013Placed on Calendar Senate
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.