About the 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 the current Treasury rate of 1.75 percent, a student taking out a loan this ...
Sponsor and status
Sponsor. Senator for Oklahoma. Republican.
Last Updated: May 22, 2013
Length: 6 pages
113th Congress (2013–2015)
This bill was introduced in a previous session of Congress but was killed due to a failed vote for cloture, under a fast-track vote called "suspension", or while resolving differences on June 6, 2013.
What legislators are saying
“Senators Alexander, Coburn, Burr, Isakson React to Senate Vote on Student Loan Solution”
— Sen. Richard Burr [R-NC] (Co-sponsor) on Jun 6, 2013
Jun 6, 2012
Earlier Version — Introduced
This activity took place on a related bill, S. 3266 (112th).
May 21, 2013
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
May 22, 2013
A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.
Jun 6, 2013
Failed Cloture in the Senate
The Senate must often vote to end debate before voting on a bill, called a cloture vote. The vote on cloture failed. This is often considered a filibuster. The Senate may try again.
S. 1003 (113th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number S. 1003. This is the one from the 113th Congress.
This bill was introduced in the 113th Congress, which met from Jan 3, 2013 to Jan 2, 2015. Legislation not enacted by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
GovTrack.us. (2020). S. 1003 — 113th Congress: Comprehensive Student Loan Protection Act. Retrieved from https://www.govtrack.us/congress/bills/113/s1003
“S. 1003 — 113th Congress: Comprehensive Student Loan Protection Act.” www.GovTrack.us. 2013. December 1, 2020 <https://www.govtrack.us/congress/bills/113/s1003>
Comprehensive Student Loan Protection Act, S. 1003, 113th Cong. (2013).
|title=S. 1003 (113th)
|accessdate=December 1, 2020
|author=113th Congress (2013)
|date=May 21, 2013
|quote=Comprehensive Student Loan Protection Act
Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.