Summary of Amendments Submitted to the Rules Committee for H.R. 1911 - Smarter Solutions for Students Act

Summaries Derived from Information Provided by Sponsors

Listed in Alphabetical Order

May 22, 2013 12:18 PM

Click on sponsor for amendment text.

Bera, (CA)


Freezes the interest rate of the student loan at the time the loan is issued until the loan is paid off. Instead of a variable interest rate on student loans, the interest rate is fixed.

Courtney (CT), Miller, George (CA), Tierney (MA), Peters (MI), Welch (VT), Kuster, Ann (NH), Duckworth (IL), Titus (NV), Sinema, Kyrsten (AZ), Horsford (NV)


Extends the current 3.4% interest rate on subsidized Stafford student loans for a period of two years.

Davis, Susan (CA)


REVISED Would add a section of Congressional findings to the bill with projections of student loan interest rates.

DelBene (WA)


Lowers the underlying bill’s cap on Stafford rates to 6.8 percent and the cap on PLUS rates to 7.9 percent.

Edwards (MD)


Reduces the cap on Stafford loans to 6.8 percent and PLUS loans to 7.9 percent in the underlying bill.

Edwards (MD)


Reduces the Stafford loan cap in the underlying bill to 3.4 percent for students pursuing a degree in the fields of science, technology, engineering, or mathematics.

Grayson (FL)


Permanently extends the current 3.4% interest rate cap for Federal Direct Stafford Loans. Also extends those rates to Federal Direct Unsubsidized Stafford Loans. Permanently extends the current 7.9% interest rate cap for PLUS Loans.

Heck (NV)


Authorizes the Secretary of Education to provide a student loan repayment incentive in the form of a .25% interest rate reduction if the student makes 48 months of on-time student loan payments. Cost of amendment is paid for by using a portion of the savings achieved in the underlying bill.

Jackson Lee (TX)


Caps the student loan interest rate at 4 percent.

Jackson Lee (TX)


Directs the Secretary of Education to submit a report to Congress on the feasibility of offering student loan forgiveness to those who start businesses in economically depressed areas such as HUBZones.

Johnson, Eddie Bernice (TX)


Expands the Pay As You Earn program to make it available to both past and present borrowers of Direct Loans, graduate PLUS loans, and most Direct Consolidation loans. The monthly payment would be brought down to 10 percent of discretionary income, and the loan forgiven after 20 years of qualified payments.

Maffei (NY)


Reinstates the current cap on Federal Direct Consolidation Loans, ensuring that no students would be forced to pay a higher interest rate on these loans then they are currently required by law. Current law caps loans at 8.25 percent.

Miller, George (CA)


Implements President Obama’s revenue neutral student loan proposal. The amendment sets fixed variable interest rates to save students $30 billion in the next six years while expanding Income Based Repayment to support struggling borrowers.

Negrete McLeod, Gloria (CA)


LATE Restores and extends the start of the repayment period for certain Federal Direct Stafford Loans from 6-months to 12-months. This amendment would use any reduction of the Federal expenditures in an award year to fully offset any increase in Federal expenditures.

Rice, Tom (SC)


REVISED My amendment requires the rate for Stafford Loans to be determined by the 10-year Treasury Note plus 1.5% rather than 2.5%. Similarly for PLUS loans, my amendment ties the rate to the 10-year Treasury Note plus 3.5% rather than 4.5%.

Runyan (NJ)


Amends the Truth in Lending Act and Higher Education Act of 1965 by requiring private and federal student loan companies to provide additional disclosures and protections for students and cosigners to fully understand their financial commitments upon signing the loan. These disclosures would serve to inform the student and/or cosigners in the event of death or a catastrophic and life threatening disability to the loan recipient.

Runyan (NJ)


Directs the Secretary of Education to study the causes for the rapidly rising cost of higher education in the US and report back to Congress within twelve months of enactment of this act on his findings. This study shall specifically explain why the cost of tuition at colleges and universities has risen far faster than inflation over the last several decades.

Sinema, Kyrsten (AZ)


Re-instates former law that allows deferment of Federal Direct Stafford Loan student loan payments by the student for six months for loans that are disbursed on or after July 1, 2013