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113th Congress (1st) Vote 185 - 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.

7/24/2013, 6:39 PM

Congress113
Number#185
Session1

Vote Summary

HR 1911 - Bipartisan Student Loan Certainty Act of 2013

113th Congress (1st) Vote 185 is a Senate Vote on Bill HR 1911, Bipartisan Student Loan Certainty Act of 2013. HR 1911 was introduced on May 9, 2013 by 1 Sponsors and 5 Cosponsors.

Bipartisan Student Loan Certainty Act of 2013 - (Sec. 2) Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to set the annual interest rate on Direct Stafford loans and Direct Unsubsidized Stafford loans issued to undergraduate students at the rate on high-yield 10-year Treasury notes plus 2.05%, but caps that rate at 8.25%.

Sets the annual interest rate on Direct Unsubsidized Stafford loans issued to graduate or professional students at the rate on high-yield 10-year Treasury notes plus 3.6%, but caps that rate at 9.5%.

Sets the annual interest rate on Direct PLUS loans at the rate on high-yield 10-year Treasury notes plus 4.6%, but caps that rate at 10.5%.

Limits the applicability of the preceding provisions to loans first disbursed on or after July 1, 2013.

Fixes the interest rate on Direct Stafford loans, Direct Unsubsidized Stafford loans, and Direct PLUS loans for the period of the loan.

Sets the annual interest rate on Direct Consolidation loans for which an application is received on or after July 1, 2013, at the weighted average of the interest rates on the loans consolidated, rounded to the nearest higher one-eighth of 1%.

(Sec. 3) Provides that the budgetary effects of this Act shall not be entered on specified PAYGO scorecards.

(Sec. 4) Directs the Comptroller General (GAO) to conduct a study and report to Congress on the actual cost to the federal government of carrying out the federal student loan programs authorized under title IV of the HEA.

The vote passed with a tally of 81 For, 18 Against, 0 Present, and 1 Not Voting. When broken down by party, there were 35 Democrats, 45 Republican, and 1 Independents voting For, 16 Democrats, 1 Republican, and 1 Independents voting Against, 0 Democrats, 0 Republican, and 0 Independents voting Present, and finally, 1 Democrats, 0 Republican, and 0 Independents Not Voting.

Voting For

Democrat

Republican

Independent

81

35

45

1


Voting Against

Democrat

Republican

Independent

18

16

1

1


Voting Present

Democrat

Republican

Independent

0

0

0

0


Not Voting

Democrat

Republican

Independent

1

1

0

0


Official Vote Question

On Passage of the Bill H.R. 1911 - 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.


Official Vote Result

Bill Passed (81-18, 3/5 majority required)

Comments

Senators' Votes on 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.

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