Comprehensive Student Loan Protection Act
Latest action · Apr 9, 2013 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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.
- IntroducedApr 9, 2013
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Comprehensive Student Loan Protection Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to set the interest rate on Direct Loans, for any 12-month period beginning on July 1 and ending on June 30, at the bond equivalent rate of 10-year Treasury bills auctioned at the final auction held prior to such June 1, plus 3%.
Makes: (1) that formula applicable to Direct Loans first disbursed on or after July 1, 2013, and (2) the rate set on such loans applicable for the life of the loans.
Requires any savings to the federal government that result from this Act's amendment to be used for deficit reduction.
Cosponsors 5
Members who signed on, in the order they did. Signatures ran from Apr 9, 2013 to Jun 6, 2013, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TN | Lamar Alexander | Original | Apr 9, 2013 |
| R-NC | Richard Burr | Original | Apr 9, 2013 |
| R-GA | Johnny Isakson | May 8, 2013 | |
| R-NV | Dean Heller | Jun 3, 2013 | |
| R-IL | Mark Kirk | Jun 6, 2013 |
Actions 2
Everything that happened, newest first.
- Apr 9, 2013Introduced in Senate
- Apr 9, 2013Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Related bills 6
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 707 | Student Loan Affordability Act of 2013 | Related bill | Apr 11, 2013 |
| S 1003 | Comprehensive Student Loan Protection Act | Identical bill | Jun 6, 2013 |
| HR 1433 | To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans. | Related bill | Jul 8, 2013 |
| HR 1498 | To extend the interest rate for Federal Direct Stafford Loans. | Related bill | Jul 8, 2013 |
| HR 1595 | Student Loan Relief Act of 2013 | Related bill | Jul 8, 2013 |
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- Apr 9, 2013Introduced in 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.