S. 3266 (112th): Comprehensive Student Loan Protection Act

Introduced:
Jun 06, 2012 (112th Congress, 2011–2013)
Sponsor:
Sen. Thomas Coburn [R-OK]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as S. 682 on Apr 09, 2013. See S. 682 for current action on this subject.

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 June 6, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 06, 2012
Referred to Committee Jun 06, 2012
Cosponsors
1 cosponsors (1R) (show)
Committees

Senate Health, Education, Labor, and Pensions

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 reset interest rates for new student loans.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Jun 06, 2012.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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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.

6/6/2012--Introduced.
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, 2012; 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.

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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