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S.682: Comprehensive Student Loan Protection Act
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||education|
|You can||read the bill|
|Sponsor||Tom Coburn, R-Okla.|
|Total Cosponsors||5 (All Republicans)|
|Introduced||April 9, 2013|
|Latest Major Action||April 9, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the Senate
- Bill passed in the Senate
- Bill passed in the House
- Bill signed into law
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.
(Source: Congressional Research Service)
|April 9, 2013||Read twice and referred to the Committee on Health, Education, Labor, and Pensions.|