Student Loan Affordability Act of 2013

Bill: 113-s-707
Sponsor: full_name: Sen. Reed, Jack [D-RI]
Introduced: 2013-04-11
Policy area: Education
Subjects: Higher education

Interest, dividends, interest rates

Student aid and college costs
Latest action: action_date: 2013-04-11
text: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Summaries:
action_date: 2013-04-11
action_desc: Introduced in Senate
text: <p>Student Loan Affordability Act of 2013 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to extend the 3.4% interest rate on Federal Direct Stafford loans to loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2015. </p>

tv_txt: II 113th CONGRESS 1st Session S. 707 IN THE SENATE OF THE UNITED STATES April 11, 2013 Mr. Reed (for himself, Mr. Franken , Ms. Stabenow , Mr. Whitehouse , Mr. Sanders , and Mr. Brown ) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions 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 Affordability Act of 2013 . 2. Interest rate extension Section 455(b)(7)(D) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(b)(7)(D) ) 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 .