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S. 682, Comprehensive Student Loan Protection Act 1 (May 23, 2013)

handle is hein.congrec/cbo11095 and id is 1 raw text is: Estimate of S. 682, the Comprehensive Student Loan Protection Act, as Introduced April 9, 2013 23-May-13 (by fiscal year, in millions of dollars, assumed enactment prior to July 2013) Changes in Direct Spending 2013-2018 2013-2023 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Total Total Estimated Budget Authority 14,245 15,375 8,645 1,060 -5,185 -8,180 -9,055 -9,305 -9,565 -9,815 -10,080 25,960 -21,860 Estimated Outlays 8,010 13,265 9,840 3,415 -2,535 -6,225 -7,665 -8,090 -8,315 -8,535 -8,765 25,770 -15,600 Beginning July 1, 2013, change the interest rate on all new subsidized, unsubsidized, gradPLUS, and parent loans. The interest rate for all loans would be a fixed rate set for the academic year during which the loan is made and it would be based on the 10-year Treasury rate plus 3 percentage points. Under current law, subsidized and unsubsidized student loans have a fixed rate of 6.80 percent and gradPLUS and parent loans have a fixed rate of 7.90 percent.

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