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S.1334: Bipartisan Student Loan Certainty Act of 2013

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about education
You can read the bill
Sponsor Joe Manchin III, D-W.Va.
Total Cosponsors 13 (4 Democrats, 1 Independent, 8 Republicans)
Introduced July 18, 2013
Latest Major Action July 18, 2013
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Bipartisan Student Loan Certainty Act of 2013 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to set the annual interest rate on Direct Stafford loans and Direct Unsubsidized Stafford loans issued to undergraduate students at the rate on high-yield 10-year Treasury notes plus 2.05%, but caps that rate at 8.25%.

Sets the annual interest rate on Direct Unsubsidized Stafford loans issued to graduate or professional students at the rate on high-yield 10-year Treasury notes plus 3.6%, but caps that rate at 9.5%.

Sets the annual interest rate on Direct PLUS loans at the rate on high-yield 10-year Treasury notes plus 4.6%, but caps that rate at 10.5%.

Limits the applicability of the preceding provisions to loans first disbursed on or after July 1, 2013.

Fixes the interest rate on Direct Stafford loans, Direct Unsubsidized Stafford loans, and Direct PLUS loans for the period of the loan.

Sets the annual interest rate on ...

(Source: Congressional Research Service)

Bill Actions

Date Description
July 18, 2013 Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 142.