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H.R. 1595 (113th): Student Loan Relief Act of 2013


The text of the bill below is as of Apr 17, 2013 (Introduced). The bill was not enacted into law.

Summary of this bill

6/17/2013: In what could become an annual occurrence, Congress yet again faces a looming deadline to resolve the problem of student loan interest rates. Without Congressional action, the rate on federally backed Stafford loans is set to double from 3.4 percent to 6.8 percent on July 1.

The Senate in early June failed to advance two bills meant to prevent this imminent increase in rates. A bill backed by Democrats would extend the current interest rate for two years, and offset the cost by ending three tax breaks. A GOP bill would peg all newly issued student loans to the U.S. Treasury 10-year borrowing rate plus 3 percentage points. Given …


I

113th CONGRESS

1st Session

H. R. 1595

IN THE HOUSE OF REPRESENTATIVES

April 17, 2013

(for himself, Mr. Bishop of New York, Ms. Bonamici, Mr. Braley of Iowa, Mrs. Bustos, Mrs. Capps, Mr. Cárdenas, Mr. Carson of Indiana, Mr. Castro of Texas, Mr. Cicilline, Ms. Clarke, Mr. Cohen, Mr. Connolly, Ms. DeLauro, Ms. DelBene, Mr. Dingell, Mr. Doyle, Ms. Duckworth, Ms. Edwards, Ms. Esty, Mr. Grijalva, Mr. Higgins, Mr. Himes, Mr. Hinojosa, Mr. Holt, Mr. Horsford, Ms. Jackson Lee, Mr. Kilmer, Mr. Langevin, Mr. Larsen of Washington, Mr. Larson of Connecticut, Ms. Lee of California, Mr. Lewis, Mr. Loebsack, Mrs. Carolyn B. Maloney of New York, Mr. Markey, Mr. McDermott, Mr. McGovern, Ms. Moore, Mr. Nadler, Ms. Norton, Mr. Peters of Michigan, Ms. Pingree of Maine, Mr. Polis, Mr. Rangel, Mr. Ryan of Ohio, Ms. Loretta Sanchez of California, Mr. Sarbanes, Ms. Schakowsky, Mr. Schiff, Mr. Schrader, Ms. Schwartz, Ms. Shea-Porter, Ms. Slaughter, Mr. Tonko, Mr. Van Hollen, Mr. Vela, Mr. Walz, Mr. Waxman, Mr. Welch, Mr. Yarmuth, Mr. Conyers, Mr. Al Green of Texas, Ms. Roybal-Allard, Mr. Thompson of California, Mr. Peters of California, Mr. Tierney, Mr. Lynch, Mr. Cartwright, Mr. Ben Ray Luján of New Mexico, Mr. Vargas, Ms. Bordallo, Ms. Eshoo, Ms. Castor of Florida, Ms. Titus, Mrs. Davis of California, Mr. Ellison, Mr. Enyart, Mr. Foster, Mr. Gene Green of Texas, Mr. Kildee, Mr. Kind, Mr. Matheson, Mr. McIntyre, Mr. O’Rourke, Mr. Rush, Mr. Sablan, Mr. Smith of Washington, Mr. Capuano, and Ms. Wilson of Florida) introduced the following bill; which was referred to the Committee on Education and the Workforce

A BILL

To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.

1.

Short title

This Act may be cited as the Student Loan Relief Act of 2013 .

2.

Interest rate extension

Subparagraph (D) of section 455(b)(7) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(b)(7) ) is amended—

(1)

in the matter preceding clause (i), by striking 2013 and inserting 2015; and

(2)

in clause (v), by striking 2013 and inserting 2015.