Comprehensive Student Loan Protection Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Apr 9, 2013)
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.
What just happenedApr 9, 2013
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Who’s behind it
- Introduced in SenateApr 9, 2013
- Apr 9, 2013IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- Apr 9, 2013IntroReferral10000
Introduced in Senate