S. 2834 (112th): Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012

Introduced:
May 07, 2012 (112th Congress, 2011–2013)
Sponsor:
Sen. Scott Brown [R-MA]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on May 7, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced May 07, 2012
Referred to Committee May 07, 2012
Cosponsors
none
Committees

Senate Homeland Security and Governmental Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes.

Summary

No summaries available.

Text

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Last updated May 07, 2012.
16 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/7/2012--Introduced.
Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012 - 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 between July 1, 2011, and July 1, 2013.
Improper Payments Elimination and Recovery Improvement Act of 2012 - Requires the Director of the Office of Management and Budget (OMB) to:
(1) identify, on an annual basis, a list of high-priority federal programs for greater levels of oversight and review of improper payments;
(2) coordinate with agencies responsible for administering high-priority programs to establish semi-annual or quarterly targets and actions for reducing improper payments; and
(3) provide guidance to agencies for improving estimates of improper payments.
Requires federal agencies to:
(1) make quarterly reports to their Inspectors General on any high-dollar improper payments identified by such agencies, and
(2) review prepayment and preaward procedures and available databases to determine program or award eligibility and prevent improper payments before releasing any federal funds.
Establishes a Do Not Pay List based on information from databases maintained by the federal government, including the database of the Social Security Administration (SSA) reporting deaths of Social Security recipients.
Requires the Director to:
(1) determine the current and historical rates and amounts of recovery of improper payments and targets for recovering improper payments, and
(2) establish a plan for at least 10 Recovery Audit Contracting programs to identify and recover overpayments and underpayments in 10 agencies.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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