113th Congress > Senate > Vote 142

Date: June 06, 2013

Result: 40-57 (Cloture Motion Rejected)

Clerk session vote number: 142

Vote Subject Matter: Social Welfare / Domestic Social Policy

Sponsor: COBURN, Thomas Allen (R-OK)

Bill number: S1003

Question: On the Cloture Motion

Description: A bill to amend the Higher Education Act of 1965 to reset interest rates for new student loans.

Bill summary: Comprehensive Student Loan Protection Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to set the interest rate on Direct Loans, for any 12-month period beginning on July 1 and ending on June 30, at the bond equivalent rate of 10-year Treasury bills auctioned at the final auction held prior to such June 1, plus 3%. Makes: (1) that formula applicable to Direct Loans first disbursed on or after July 1, 2013, and (2) the rate set on such loans applicable for the life of the loans. Requires any savings to the federal government that result from this Act's amendment to be used for deficit reduction.

Bill titles: A bill to amend the Higher Education Act of 1965 to reset interest rates for new student loans.

Links for more info on the vote: congress.gov

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