Bank on Students Loan Fairness Act
Latest action · May 8, 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.
- IntroducedMay 8, 2013
- Passed SenateNot reached
- Passed HouseNot 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 12
Members who signed on, in the order they did. Signatures ran from May 14, 2013 to Sep 8, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Barbara Boxer | May 14, 2013 | |
| D-OR | Jeff Merkley | May 14, 2013 | |
| D-WV | John D. Rockefeller IV | May 14, 2013 | |
| D-AK | Mark Begich | May 15, 2013 | |
| D-LA | Mary L. Landrieu | May 16, 2013 | |
| D-MO | Claire McCaskill | May 20, 2013 | |
| D-HI | Brian Schatz | May 23, 2013 | |
| D-MN | Al Franken | Jun 3, 2013 | |
| D-CT | Richard Blumenthal | Jun 3, 2013 | |
| I-VT | Bernard Sanders | Jun 26, 2013 | |
| D-MA | Edward J. Markey | Oct 2, 2013 | |
| D-MD | Barbara A. Mikulski | Sep 8, 2014 |
Actions 3
Everything that happened, newest first.
- May 8, 2013Introduced in Senate
- May 8, 2013Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- May 8, 2013Sponsor introductory remarks on measure. (CR S3260)
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1979 | Bank on Students Loan Fairness Act | Identical bill | Jul 8, 2013 |
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- May 8, 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.