S. 682
Comprehensive Student Loan Protection Act
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Sponsor
Sen. Coburn, Tom [R-OK]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 682
- Congress
- 113
- Introduced Date
- Apr 9, 2013
- Policy Area
- Education
- Is Law
- No
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Source: Senate
Introduced in Senate
Source: Library of Congress
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.
Health, Education, Labor, and Pensions Committee
Introduced in Senate
Apr 9, 2013