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US S2051
US S2051A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.
summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students on or after July 1, 2012.
AI Summary
This bill aims to extend a reduced interest rate of 3.4% on Federal Direct Stafford Loans, which are loans for undergraduate students to help pay for college. Specifically, it proposes to make this lower interest rate, which was originally set to expire on July 1, 2012, available for loans first disbursed to undergraduate students on or after that date, effectively continuing the reduced rate beyond its initial expiration. The Higher Education Act of 1965 is the law governing federal student financial aid programs, and this bill seeks to amend it to maintain this favorable interest rate for students.
Committee Categories
Health and Social Services
Sponsors (19)
Mark Begich (D),
Richard Blumenthal (D),
Sherrod Brown (D),
Maria Cantwell (D),
Dick Durbin (D),
Al Franken (D),
Tim Johnson (D),
Amy Klobuchar (D),
Herb Kohl (D),
Frank Lautenberg (D),
Patrick Leahy (D),
Jeff Merkley (D),
Patty Murray (D),
Jack Reed (D),
Bernie Sanders (I),
Chuck Schumer (D),
Debbie Stabenow (D),
Sheldon Whitehouse (D),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 01/31/2012)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/senate-bill/2051/all-info | 04/25/2013 |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112s2051is/pdf/BILLS-112s2051is.pdf.pdf | 02/02/2013 |
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