US SB897 | 2013-2014 | 113th Congress

Status

Spectrum: Strong Partisan Bill (Democrat 12-1)
Status: Introduced on May 8 2013 - 25% progression, died in committee
Action: 2013-05-08 - 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]

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.

Tracking Information

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Title

Bank on Students Loan Fairness Act

Sponsors


History

DateChamberAction
2013-05-08SenateRead twice and referred to the Committee on Health, Education, Labor, and Pensions.
2013-05-08SenateSponsor introductory remarks on measure. (CR S3260)

Same As/Similar To

HB1979 (Same As) 2013-07-08 - Referred to the Subcommittee on Higher Education and Workforce Training.

Subjects


US Congress State Sources


Bill Comments

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