Bank on Students Loan Fairness Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (May 8, 2013)
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.
What just happenedMay 8, 2013
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Who’s behind it
- Introduced in SenateMay 8, 2013
- May 8, 2013IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- May 8, 2013IntroReferralB00100
Sponsor introductory remarks on measure. (CR S3260)
- May 8, 2013IntroReferral10000
Introduced in Senate