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[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1911 Engrossed in House (EH)]

113th CONGRESS
  1st Session
                                H. R. 1911

_______________________________________________________________________

                                 AN ACT

 
 To amend the Higher Education Act of 1965 to establish interest rates 
for new loans made on or after July 1, 2013, to direct the Secretary of 
Education to convene the Advisory Committee on Improving Postsecondary 
  Education Data to conduct a study on improvements to postsecondary 
  education transparency at the Federal level, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TABLE OF CONTENTS.

    The table of contents for this Act is as follows:

Sec. 1. Table of Contents.
              TITLE I--SMARTER SOLUTIONS FOR STUDENTS ACT

Sec. 101. Short title.
Sec. 102. Student loan interest rates.
Sec. 103. Budgetary effects.
   TITLE II--IMPROVING POSTSECONDARY EDUCATION DATA FOR STUDENTS ACT

Sec. 201. Short title.
Sec. 202. Study on improvements to postsecondary education transparency 
                            at the Federal level.

              TITLE I--SMARTER SOLUTIONS FOR STUDENTS ACT

SEC. 101. SHORT TITLE.

    This title may be cited as the ``Smarter Solutions for Students 
Act''.

SEC. 102. STUDENT LOAN INTEREST RATES.

    Section 455(b) of the Higher Education Act of 1965 (20 U.S.C. 
1087e(b)) is amended--
            (1) in paragraph (7)--
                    (A) in the paragraph heading, by inserting ``, and 
                before july 1, 2013'' after ``2006'';
                    (B) in subparagraph (A), by inserting ``and before 
                July 1, 2013,'' after ``2006,'';
                    (C) in subparagraph (B), by inserting ``and before 
                July 1, 2013,'' after ``2006,''; and
                    (D) in subparagraph (C), by inserting ``and before 
                July 1, 2013,'' after ``2006,'';
            (2) by redesignating paragraphs (8) and (9) as paragraphs 
        (9) and (10), respectively; and
            (3) by inserting after paragraph (7), the following:
            ``(8) Interest rate provision for new loans on or after 
        july 1, 2013.--
                    ``(A) Rates for fdsl and fdusl.--Notwithstanding 
                the preceding paragraphs of this subsection, for 
                Federal Direct Stafford Loans and Federal Direct 
                Unsubsidized Stafford Loans for which the first 
                disbursement is made on or after July 1, 2013, the 
                applicable rate of interest shall, during any 12-month 
                period beginning on July 1 and ending on June 30, be 
                determined on the preceding June 1 and be equal to--
                            ``(i) the high-yield 10-year Treasury notes 
                        auctioned at the final auction held prior to 
                        such June 1; plus
                            ``(ii) 2.5 percent,
                except that such rate shall not exceed 8.5 percent.
                    ``(B) PLUS loans.--Notwithstanding the preceding 
                paragraphs of this subsection, for any Federal Direct 
                PLUS Loan for which the first disbursement is made on 
                or after July 1, 2013, the applicable rate of interest 
                shall, during any 12-month period beginning on July 1 
                and ending on June 30, be determined on the preceding 
                June 1 and be equal to--
                            ``(i) the high-yield 10-year Treasury notes 
                        auctioned at the final auction held prior to 
                        such June 1; plus
                            ``(ii) 4.5 percent,
                except that such rate shall not exceed 10.5 percent.
                    ``(C) Consolidation loans.--Notwithstanding the 
                preceding paragraphs of this subsection, any Federal 
                Direct Consolidation Loan for which the application is 
                received on or after July 1, 2013, shall bear interest 
                at an annual rate on the unpaid principal balance of 
                the loan that is equal to the weighted average of the 
                interest rates on the loans consolidated, rounded to 
                the nearest higher one-eighth of one percent.''.

SEC. 103. BUDGETARY EFFECTS.

    (a) Paygo Scorecard.--The budgetary effects of this Act shall not 
be entered on either PAYGO scorecard maintained pursuant to section 
4(d) of the Statutory Pay-As-You-Go Act of 2010.
    (b) Senate Paygo Scorecard.--The budgetary effects of this Act 
shall not be entered on any PAYGO scorecard maintained for purposes of 
section 201 of S. Con. Res. 21 (110th Congress).

   TITLE II--IMPROVING POSTSECONDARY EDUCATION DATA FOR STUDENTS ACT

SEC. 201. SHORT TITLE.

    This title may be cited as the ``Improving Postsecondary Education 
Data for Students Act''.

SEC. 202. STUDY ON IMPROVEMENTS TO POSTSECONDARY EDUCATION TRANSPARENCY 
              AT THE FEDERAL LEVEL.

    (a) Formation of Advisory Committee on Improving Postsecondary 
Education Data.--
            (1) In general.--Not later than 30 days after the date of 
        enactment of this Act, the Secretary of Education shall convene 
        the Advisory Committee on Improving Postsecondary Education 
        Data (in this Act referred to as the ``Advisory Committee''), 
        which shall be comprised of 15 members who represent 
        economically, racially, and geographically diverse populations 
        appointed by the Secretary in consultation with the 
        Commissioner for Education Statistics, including--
                    (A) individuals representing different sectors of 
                institutions of higher education, including individuals 
                representing undergraduate and graduate education;
                    (B) experts in the field of higher education 
                policy;
                    (C) State officials;
                    (D) students and other stakeholders from the higher 
                education community;
                    (E) representatives from the business community;
                    (F) experts in choice in consumer markets;
                    (G) privacy experts;
                    (H) college and career counselors at secondary 
                schools;
                    (I) experts in data policy, collection, and use; 
                and
                    (J) experts in labor markets.
            (2) Chairperson.--The Secretary shall appoint the 
        Chairperson of the Advisory Committee.
    (b) Study Required.--The Advisory Committee shall conduct a study 
examining--
            (1) the types of information, including information related 
        to costs of postsecondary education, sources of financial 
        assistance (including Federal student loans), student outcomes, 
        and postgraduation earnings, the Federal Government should 
        collect and report on institutions of higher education to 
        assist students and families in their search for an institution 
        of higher education;
            (2) how such information should be collected and reported, 
        including how to disaggregate information on student outcomes 
        by subgroups of students, such as full-time students, part-time 
        students, nontraditional students, first generation college 
        students, students who are veterans, and Federal Pell Grant 
        recipients under subpart 1 of part A of title IV of the Higher 
        Education Act of 1965 (20 U.S.C. 1070a); and
            (3) the ways in which the Federal Government may make such 
        information more readily available to--
                    (A) students and their families in a format that is 
                easily accessible and understandable, and will aid 
                students and their families in making decisions; and
                    (B) States, local governments, secondary schools, 
                individual or groups of institutions of higher 
                education, and private-sector entities.
    (c) Scope of Study.--In conducting the study under this Act, the 
Advisory Committee shall, at a minimum, examine--
            (1) whether the current Federal transparency initiatives on 
        postsecondary education--
                    (A) are reporting consistent information about 
                individual institutions of higher education across 
                Federal agencies; and
                    (B) are similar to transparency initiatives on 
                postsecondary education carried out by States, 
                individual or groups of institutions of higher 
                education, or private-sector entities;
            (2) whether--
                    (A) the collection and reporting of postgraduation 
                earnings by the Federal Government is feasible, and if 
                feasible, the options for collecting and reporting such 
                information;
                    (B) collecting and reporting such information would 
                improve the use of Federal transparency initiatives and 
                ease decisionmaking for students and their families; 
                and
                    (C) collecting and reporting such information would 
                have an impact on student privacy, and if so, how such 
                impact may be minimized;
            (3) whether any other information, including information 
        relating to student outcomes or identified under the review 
        required under subsection (d), should be collected and reported 
        by the Federal Government to improve the utility of such 
        initiatives for students and their families, and if so, how 
        such information may be collected and reported, including 
        whether the information should be disaggregated by subgroups of 
        students;
            (4) whether any information currently collected and 
        reported by the Federal Government on institutions of higher 
        education is not useful for students and their families and 
        should not be so collected and reported;
            (5) the manner in which the information from Federal 
        transparency initiatives is made available to students and 
        their families, and whether format changes may help the 
        information become more easily understood and widely utilized 
        by students and their families;
            (6) any activities being carried out by the Federal 
        Government, States, individual or groups of institutions of 
        higher education, or private-sector entities to help inform 
        students and their families of the availability of Federal 
        transparency initiatives;
            (7) the cost to institutions of higher education of 
        reporting to the Federal Government the information that is 
        being collected and reported through Federal transparency 
        initiatives, and how such cost may be minimized; and
            (8) the relevant research described in subsection (d).
    (d) Review of Relevant Research.--In conducting the study under 
this Act, the Advisory Committee shall review and consider--
            (1) research and studies, if any, that have been conducted 
        to determine questions most frequently asked by students and 
        families to help inform their search for an institution of 
        higher education;
            (2) the types of information students seek before enrolling 
        in an institution of higher education;
            (3) whether the availability to students and their families 
        of additional information on institutions of higher education 
        will be beneficial or confusing;
            (4) results, if any, that are available from consumer 
        testing of Federal, State, institution of higher education, and 
        private-sector transparency initiatives on postsecondary 
        education that have been made publicly available on or after 
        the date that is 10 years before the date of enactment of this 
        Act; and
            (5) any gaps in the research, studies, and results 
        described in paragraphs (1) and (4) relating to the types of 
        information students seek before enrolling in an institution of 
        higher education.
    (e) Consultation.--
            (1) In general.--In conducting the study under this Act, 
        the Advisory Committee shall--
                    (A) hold public hearings to consult with parents 
                and students; and
                    (B) consult with a broad range of interested 
                parties in higher education, including appropriate 
                researchers, representatives of secondary schools 
                (including college and career counselors) and 
                institutions of higher education from different sectors 
                of such institutions (including undergraduate and 
                graduate education), State administrators, and Federal 
                officials.
            (2) Consultation with the authorizing committees.--The 
        Advisory Committee shall consult on a regular basis with the 
        authorizing committees in conducting the study under this Act.
    (f) Reports to Authorizing Committees.--
            (1) Interim report.--Not later than 180 days after the date 
        of enactment of this Act, the Advisory Committee shall prepare 
        and submit to the authorizing committees and the Secretary an 
        interim report describing the progress made in conducting the 
        study under this Act and any preliminary findings on the topics 
        identified under subsection (c).
            (2) Final report.--
                    (A) In general.--Not later than 1 year after the 
                date of enactment of this Act, the Advisory Committee 
                shall prepare and submit to the authorizing committees 
                and the Secretary a final report on the study, 
                including--
                            (i) recommendations for legislative, 
                        regulatory, and administrative actions based on 
                        findings related to the topics identified under 
                        subsection (c); and
                            (ii) a summary of the research described in 
                        subsection (d).
                    (B) Consultation with 0NCES.--The Advisory 
                Committee shall consult with the Commissioner of 
                Education Statistics prior to making recommendations 
                under subparagraph (A)(i) with respect to improving the 
                information being collected and reported by the Federal 
                Government on institutions of higher education.
    (g) Availability of Funds.--The amount necessary to conduct the 
study under this Act shall be made available from amounts available to 
the Secretary for administrative expenses of the Department of 
Education.
    (h) Definitions.--For purposes of this Act:
            (1) Authorizing committees.--The term ``authorizing 
        committees'' has the meaning given the term in section 103 of 
        the Higher Education Act of 1965 (20 U.S.C. 1003).
            (2) First generation college student.--The term ``first 
        generation college student'' has the meaning given the term in 
        section 402A(h) of the Higher Education Act of 1965 (20 U.S.C. 
        1070a-11(h)).
            (3) Institution of higher education.--The term 
        ``institution of higher education'' has the meaning given the 
        term in section 102 of the Higher Education Act of 1965 (20 
        U.S.C. 1002), except that such term does not include 
        institutions described in subsection (a)(1)(C) of such section 
        102.
            (4) Secondary school.--The term ``secondary school'' has 
        the meaning given the term in section 9101 of the Elementary 
        and Secondary Education Act of 1965 (20 U.S.C. 7801).
            (5) Secretary.--The term ``Secretary'' means the Secretary 
        of Education.
            (6) State.--The term ``State'' has the meaning given the 
        term in section 103 of the Higher Education Act of 1965 (20 
        U.S.C. 1003).
            (7) Student.--The term ``student'' includes--
                    (A) a prospective student;
                    (B) a student enrolled in an institution of higher 
                education;
                    (C) a nontraditional student (as defined in section 
                803(j)(2) of the Higher Education Act of 1965 (20 
                U.S.C. 1161c(j)(2))); and
                    (D) a veteran (as defined in section 480(c)(1) of 
                such Act (20 U.S.C. 1087vv(c)(1))) who is a student or 
                prospective student.

            Passed the House of Representatives May 23, 2013.

            Attest:

                                                                 Clerk.
113th CONGRESS

  1st Session

                               H. R. 1911

_______________________________________________________________________

                                 AN ACT

 To amend the Higher Education Act of 1965 to establish interest rates 
for new loans made on or after July 1, 2013, to direct the Secretary of 
Education to convene the Advisory Committee on Improving Postsecondary 
  Education Data to conduct a study on improvements to postsecondary 
  education transparency at the Federal level, and for other purposes.
```