Student Loan Affordability Act of 2013

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.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 707 Introduced in Senate (IS)]

113th CONGRESS
  1st Session
                                 S. 707

    To amend the Higher Education Act of 1965 to extend the reduced 
            interest rate for Federal Direct Stafford Loans.


_______________________________________________________________________


                   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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Loan Affordability Act of 
2013''.

SEC. 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''.
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