IB 
Union Calendar No. 57 
113TH CONGRESS 
1ST SESSION H. R. 1911 
[Report No. 113–82, Part I] 
To amend the Higher Education Act of 1965 to establish interest rates 
for new loans made on or after July 1, 2013. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 9, 2013 
Mr. KLINE (for himself and Ms. FOXX) introduced the following bill; which 
was referred to the Committee on Education and the Workforce, and in 
addition to the Committee on the Budget, for a period to be subsequently 
determined by the Speaker, in each case for consideration of such provi-
sions as fall within the jurisdiction of the committee concerned 
MAY 20, 2013 
Additional sponsors: Mr. ROE of Tennessee, Mr. GRIFFIN of Arkansas, Mr. 
MESSER, and Mr. THOMPSON of Pennsylvania 
MAY 20, 2013 
Reported from the Committee on Education and the Workforce with an 
amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
MAY 20, 2013 
The Committee on the Budget discharged; committed to the Committee of the 
Whole House on the State of the Union and ordered to be printed 
[For text of introduced bill, see copy of bill as introduced on May 9, 2013 ] 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Smarter Solutions for 
Students Act’’. 
SEC. 2. 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 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 
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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 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, 
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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 inter-
est rates on the loans consolidated, rounded to 
the nearest higher one-eighth of one percent.’’. 
SEC. 3. BUDGETARY EFFECTS. 
(a) PAYGO SCORECARD.—The budgetary effects of this 
Act shall not be entered on either PAYGO scorecard main-
tained pursuant to section 4(d) of the Statutory Pay-As- 
You-Go Act of 2010. 
(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). 
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Union Calendar No. 57 
113TH CONGRESS 
1ST SESSION 
H. R. 1911 
[Report No. 113–82, Part I] 
A BILL 
To amend the Higher Education Act of 1965 to es-
tablish interest rates for new loans made on or 
after July 1, 2013. 
MAY 20, 2013 
Reported from the Committee on Education and the 
Workforce with an amendment 
MAY 20, 2013 
The Committee on the Budget discharged; committed to 
the Committee of the Whole House on the State of the 
Union and ordered to be printed 
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00:18 May 21, 2013
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