HR 1911 · 113th Congress · Education
Bipartisan Student Loan Certainty Act of 2013
Bill Progress
1
Introduced2
Committee✓
House Vote✓
Senate✓
EnactedLatest: Became Public Law No: 113-28.(2013-08-09)
Recorded Votes
PassedSenate · 2013-07-24
Roll #185 ↗Yea 81Nay 18
PassedSenate · 2013-07-24
Roll #185 ↗Yea 81Nay 18
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Plain Language Summary
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Smarter Solutions for Students Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to set the annual interest rate on Direct Stafford loans and Direct Unsubsidized Stafford loans at the rate on high-yield 10-year Treasury notes plus 2.5%, but caps that rate at 8.5%. Sets the annual interest rate on Direct PLUS loans at the rate on high-yield 10-year Treasury notes plus 4.5%, but caps that rate at 10.5%. Limits the applicability of the preceding provisions to loans first disbursed on or after July 1, 2013. Sets the annual interest rate on Direct Consolidation loans for which an application is received on or after July 1, 2013, at the weighted average of the interest rates on the loans consolidated, rounded to the nearest higher one-eighth of 1%. Provides that the budgetary effects of this Act shall not be entered on specified PAYGO scorecards.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 1911, Smarter Solutions for Students Act
May 20, 2013As ordered reported by the House Committee on Education and the Workforce on May 16, 2013
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (5)
5 Republicans