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H.R. 4628 112th Congress House

Interest Rate Reduction Act

Official title: To extend student loan interest rates for undergraduate Federal Direct Stafford Loans.

Introduced: April 25, 2012 See on congress.gov
Education AppropriationsGovernment lending and loan guaranteesGovernment trust fundsHealth programs administration and funding
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Health promotion and preventive careHigher educationInterest, dividends, interest ratesStudent aid and college costs
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 18 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 8, 2012
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 393.
May 7, 2012
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Apr 27, 2012
Motion to reconsider laid on the table Agreed to without objection.
Apr 27, 2012
On passage Passed by recorded vote: 215 - 195 (Roll no. 195). (text: CR H2228)
Apr 27, 2012
On motion to recommit with instructions Failed by recorded vote: 178 - 231 (Roll no. 194).
Apr 27, 2012
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H2250)
Apr 27, 2012
DEBATE - The House proceeded with 10 minutes of debate on the Capps motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to protect health insurance benefits for women and children by prohibiting the underlying bill from reducing coverage or raising costs for healthcare benefits offered by insurance companies, including benefits such as contraception, mammograms, cervical cancer screenings, childhood immunizations, and health screenings for newborns.
Apr 27, 2012
The previous question was ordered pursuant to the rule. (consideration: CR H2246)
Apr 27, 2012
DEBATE - The House continued with debate on H.R. 4628.
Apr 27, 2012
DEBATE - The House proceeded with one hour of debate on H.R. 4628.
Apr 27, 2012
Rule provides for consideration of H.R. 3523 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. Specified amendments are in order. The rule waives all points of order against consideration of the bill. The rule makes in order as original text for purpose of amendment the amendment in the nature of a substitute consisting of the text of Rules Committee Print 112-20 and provides that it shall be considered as read. The rule waives all points of order against the amendment in the nature of a substitute. The rule makes in order only those amendments printed in the Rules Committee report. The rule further provides that it shall be in order at any time through the legislative day of April 27, 2012, for the Speaker to entertain motions that the House suspend the rules. The rule provides further for a closed rule for consideration of H.R. 4628. The rule provides one hour of general debate and one motion to recommit. Finally, the rule provides that the Committee on Appropriations may, at any time before 6 p.m. on Wednesday, May 2, 2012 recommit. Finally, the rule provides that the Committee on Appropriations may, at any time before 6 p.m. on Wednesday, May 2, 2012 file, privileged reports to accompany measures making appropriations for the fiscal year ending September 30, 2013.
Apr 27, 2012
Considered under the provisions of rule H. Res. 631. (consideration: CR H2228-2246)
Apr 27, 2012
Mrs. Capps moved to recommit with instructions to Education and the Workforce and Energy and Commerce. (consideration: CR H2246-2250; text: CR H2246)
Apr 27, 2012
Considered as unfinished business. (consideration: CR H2246-2252)
Apr 27, 2012
POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of rule XIX, the Chair announced that further proceedings on the bill H.R. 4628 were postponed.
Apr 26, 2012
Referred to the Subcommittee on Health.
Apr 25, 2012
Referred to the Committee on Education and the Workforce, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Apr 25, 2012
Introduced in House
 Votes taken on this bill 2
DateChamberWhat was voted onResultYes–No
Apr 27, 2012 House · vote #195 On Passage Passed 215–195 See who voted →
Apr 27, 2012 House · vote #194 On Motion to Recommit with Instructions Failed 178–231 See who voted →
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 Latest action May 8, 2012

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 393.

 Plain-English summary Congressional Research Service

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Interest Rate Reduction Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2013.

Amends the Patient Protection and Affordable Care Act to repeal provisions establishing and appropriating funds to the Prevention and Public Health Fund (a Fund to provide for expanded and sustained national investment in prevention and public health programs to improve health and help restrain the rate of growth in private and public sector health care costs). Rescinds any unobligated balances appropriated to such Fund.

 Related & companion bills 9
  • S 2366 Identical bill Interest Rate Reduction Act
  • HR 1217 To repeal the Prevention and Public Health Fund.
  • HR 3826 To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.
  • HR 4816 Stop the Rate Hike Act of 2012
  • HR 5812 Investing in Our Student's Future Act
  • S 2051 A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.
  • S 2343 Stop the Student Loan Interest Rate Hike Act of 2012
  • S 2834 Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012
  • HRES 631 Providing for consideration of the bill (H.R. 3523) to provide for the sharing of certain cyber threat intelligence and…
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4628: Interest Rate Reduction Act. 112th Congress. Open America. https://openamerica.io/bill/112-HR-4628/
MLA
"H.R. 4628: Interest Rate Reduction Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-4628/.
Bluebook (legal)
H.R. 4628, 112th Cong. (2026), https://openamerica.io/bill/112-HR-4628/.
Markdown link
[H.R. 4628: Interest Rate Reduction Act](https://openamerica.io/bill/112-HR-4628/)
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