US Congress Senate Bill 3266 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on June 6 2012 - 25% progression, died in committee
Action: 2012-06-06 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]

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, 2012; 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.

Comprehensive Student Loan Protection Act

Sen. Tom Coburn [R-OK]

Sen. Richard Burr [R-NC]

Date	Chamber	Action
2012-06-06	Senate	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/3266/all-info
Text	https://www.congress.gov/112/bills/s3266/BILLS-112s3266is.pdf