II 
Calendar No. 139 
113TH CONGRESS 
1ST SESSION H. R. 1911 
IN THE SENATE OF THE UNITED STATES 
JUNE 3, 2013 
Received 
JULY 17, 2013 
Read the first time 
JULY 18, 2013 
Read the second time and placed on the calendar 
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 Representa-
tives 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. 
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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 
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(3) by inserting after paragraph (7), the fol-
lowing: 
‘‘(8) INTEREST
RATE
PROVISION
FOR
NEW 
LOANS ON OR AFTER JULY 1, 2013.— 
‘‘(A) RATES FOR FDSL AND FDUSL.—Not-
withstanding 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 be-
ginning 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 per-
cent. 
‘‘(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 
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12-month period beginning on July 1 and end-
ing 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 per-
cent. 
‘‘(C) CONSOLIDATION
LOANS.—Notwith-
standing the preceding paragraphs of this sub-
section, 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 in-
terest rates on the loans consolidated, rounded 
to the nearest higher one-eighth of one per-
cent.’’. 
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. 
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(b) SENATE PAYGO SCORECARD.—The budgetary ef-
fects of this Act shall not be entered on any PAYGO score-
card maintained for purposes of section 201 of S. Con. 
Res. 21 (110th Congress). 
TITLE II—IMPROVING POSTSEC-
ONDARY 
EDUCATION 
DATA 
FOR STUDENTS ACT 
SEC. 201. SHORT TITLE. 
This title may be cited as the ‘‘Improving Postsec-
ondary Education Data for Students Act’’. 
SEC. 202. STUDY ON IMPROVEMENTS TO POSTSECONDARY 
EDUCATION TRANSPARENCY AT THE FED-
ERAL LEVEL. 
(a) FORMATION OF ADVISORY COMMITTEE ON IM-
PROVING 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 consulta-
tion with the Commissioner for Education Statistics, 
including— 
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(A) individuals representing different sec-
tors of institutions of higher education, includ-
ing 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 com-
munity; 
(F) experts in choice in consumer markets; 
(G) privacy experts; 
(H) college and career counselors at sec-
ondary schools; 
(I) experts in data policy, collection, and 
use; and 
(J) experts in labor markets. 
(2) CHAIRPERSON.—The Secretary shall ap-
point the Chairperson of the Advisory Committee. 
(b) STUDY REQUIRED.—The Advisory Committee 
shall conduct a study examining— 
(1) the types of information, including informa-
tion related to costs of postsecondary education, 
sources of financial assistance (including Federal 
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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 infor-
mation on student outcomes by subgroups of stu-
dents, such as full-time students, part-time students, 
nontraditional students, first generation college stu-
dents, 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 mak-
ing decisions; and 
(B) States, local governments, secondary 
schools, individual or groups of institutions of 
higher education, and private-sector entities. 
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(c) SCOPE
OF STUDY.—In conducting the study 
under this Act, the Advisory Committee shall, at a min-
imum, 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 Govern-
ment is feasible, and if feasible, the options for 
collecting and reporting such information; 
(B) collecting and reporting such informa-
tion would improve the use of Federal trans-
parency initiatives and ease decisionmaking for 
students and their families; and 
(C) collecting and reporting such informa-
tion would have an impact on student privacy, 
and if so, how such impact may be minimized; 
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(3) whether any other information, including in-
formation relating to student outcomes or identified 
under the review required under subsection (d), 
should be collected and reported by the Federal Gov-
ernment to improve the utility of such initiatives for 
students and their families, and if so, how such in-
formation 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 institu-
tions 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 eas-
ily understood and widely utilized by students and 
their families; 
(6) any activities being carried out by the Fed-
eral Government, States, individual or groups of in-
stitutions of higher education, or private-sector enti-
ties to help inform students and their families of the 
availability of Federal transparency initiatives; 
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(7) the cost to institutions of higher education 
of reporting to the Federal Government the informa-
tion that is being collected and reported through 
Federal transparency initiatives, and how such cost 
may be minimized; and 
(8) the relevant research described in sub-
section (d). 
(d) REVIEW
OF RELEVANT RESEARCH.—In con-
ducting 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 be-
fore enrolling in an institution of higher education; 
(3) whether the availability to students and 
their families of additional information on institu-
tions of higher education will be beneficial or con-
fusing; 
(4) results, if any, that are available from con-
sumer testing of Federal, State, institution of higher 
education, and private-sector transparency initiatives 
on postsecondary education that have been made 
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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 re-
sults described in paragraphs (1) and (4) relating to 
the types of information students seek before enroll-
ing 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 inter-
ested parties in higher education, including ap-
propriate researchers, representatives of sec-
ondary schools (including college and career 
counselors) and institutions of higher education 
from different sectors of such institutions (in-
cluding undergraduate and graduate education), 
State administrators, and Federal officials. 
(2) CONSULTATION
WITH
THE
AUTHORIZING 
COMMITTEES.—The Advisory Committee shall con-
sult on a regular basis with the authorizing commit-
tees in conducting the study under this Act. 
(f) REPORTS TO AUTHORIZING COMMITTEES.— 
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(1) INTERIM
REPORT.—Not later than 180 
days after the date of enactment of this Act, the Ad-
visory 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 find-
ings 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 Ad-
visory 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 de-
scribed in subsection (d). 
(B) CONSULTATION
WITH 0NCES.—The 
Advisory Committee shall consult with the Com-
missioner of Education Statistics prior to mak-
ing 
recommendations 
under 
subparagraph 
(A)(i) with respect to improving the information 
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being collected and reported by the Federal 
Government on institutions of higher education. 
(g) AVAILABILITY
OF FUNDS.—The amount nec-
essary to conduct the study under this Act shall be made 
available from amounts available to the Secretary for ad-
ministrative 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 de-
scribed in subsection (a)(1)(C) of such section 102. 
(4) SECONDARY
SCHOOL.—The term ‘‘sec-
ondary school’’ has the meaning given the term in 
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section 9101 of the Elementary and Secondary Edu-
cation 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 mean-
ing 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: 
KAREN L. HAAS, 
Clerk. 
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Calendar No. 139 
113TH CONGRESS 
1ST SESSION 
H. R. 1911 
AN ACT 
To amend the Higher Education Act of 1965 to es-
tablish 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 con-
duct a study on improvements to postsecondary 
education transparency at the Federal level, and 
for other purposes. 
JULY 18, 2013 
Read the second time and placed on the calendar 
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