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S.909: Responsible Student Loan Solutions Act
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||education|
|You can||read the bill|
|Sponsor||Jack Reed, D-R.I.|
|Total Cosponsors||3 (All Democrats)|
|Introduced||May 8, 2013|
|Latest Major Action||May 8, 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
Responsible Student Loan Solutions Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to limit the unpaid amount of Direct Stafford loans that students may amass before completing their undergraduate education. Varies that limit on the basis of whether a student is a dependent student, independent student, or dependent student whose parents are unable to borrow a Direct PLUS loan.
Limits the amount of Direct Stafford loans that students may borrow in any academic year before the completion of their undergraduate studies. Varies that limit on the basis of whether a student: (1) is a dependent student, independent student, or dependent student whose parents are unable to borrow a Direct PLUS loan; and (2) has or has not successfully completed the first year or first and second years of their undergraduate studies.
Sets the annual interest rate on Direct loans at the bond equivalent rate on 91-day Treasury bills plus a percentage that: (1) r...
(Source: Congressional Research Service)
|May 8, 2013||Read twice and referred to the Committee on Health, Education, Labor, and Pensions.|