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S 2343 112th Congress Senate

Stop the Student Loan Interest Rate Hike Act of 2012

Official title: A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans, and for other purposes.

Introduced: April 24, 2012 See on congress.gov
Education Employment taxesGovernment lending and loan guaranteesHigher educationInterest, dividends, interest rates
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Self-employedService industriesSmall businessStudent 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 17 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 24, 2012
Failed of passage/not agreed to in Senate: Under the order of 5/23/12, not having achieved 60 votes in the affirmative, failed of passage in Senate by Yea-Nay Vote. 51 - 43. Record Vote Number: 113.
May 24, 2012
Returned to the Calendar. Calendar No. 365.
May 24, 2012
Under the order of 5/23/12, not having achieved 60 votes in the affirmative, failed of passage in Senate by Yea-Nay Vote. 51 - 43. Record Vote Number: 113.
May 24, 2012
Measure laid before Senate by unanimous consent. (consideration: CR S3609-3611, S3611-3612)
May 24, 2012
Motion to proceed to consideration of measure agreed to in Senate. (consideration: CR S3609)
May 23, 2012
Motion by Senator Reid to reconsider the vote by which cloture was not invoked on the motion to proceed to the measure (Roll Call Vote No. 89) withdrawn in Senate by Unanimous Consent.
May 16, 2012
Motion to proceed to consideration of measure made in Senate. (consideration: CR S3181-3182)
May 15, 2012
Motion to proceed to consideration of measure made in Senate. (consideration: CR S3158)
May 9, 2012
Motion to proceed to consideration of measure made in Senate. (consideration: CR S2989-3035)
May 8, 2012
Motion by Senator Reid to reconsider the vote by which cloture was not invoked on the motion to proceed to the measure (Roll Call Vote No. 89) entered in Senate.
May 8, 2012
Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 52 - 45. Record Vote Number: 89. (consideration: CR H2944; text: CR H2944)
May 8, 2012
Motion to proceed to measure considered in Senate. (consideration: CR S2935-2944, H2944-2959)
May 7, 2012
Motion to proceed to measure considered in Senate. (consideration: CR S2892-2906)
Apr 26, 2012
Cloture motion on the motion to proceed to the measure presented in Senate. (consideration: CR S2799; text: CR S2799)
Apr 26, 2012
Motion to proceed to consideration of measure made in Senate. (consideration: CR S2799-2807)
Apr 24, 2012
Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 365. (text of measure as introduced: CR S2657-2658)
Apr 24, 2012
Introduced in Senate
 Amendments to this bill 1

Amendments propose changes to this bill. Members vote on amendments separately before the final bill vote. An agreed amendment becomes part of the bill; a failed amendment does not.

1 failed

AmendmentSponsorPurposeStatusLatest action
SAMDT 2,153 – In the nature of a substitute. Failed May 24, 2012
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 Latest action May 24, 2012

Returned to the Calendar. Calendar No. 365.

 Plain-English summary Congressional Research Service

Stop the Student Loan Interest Rate Hike Act of 2012 - 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 Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require certain shareholders of a subchapter S corporation engaged as a partner in a professional service business to include income or loss attributable to such business in their net earnings from self-employment for employment tax purposes.

Restricts such tax treatment to shareholders whose modified adjusted gross income exceeds a specified amount that varies based on their tax filing status.

Defines a "professional service business" as any trade or business providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.

 Related & companion bills 8
  • HR 3826 Related bill To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.
  • HR 3840 Related bill Narrowing Exceptions for Withholding Taxes Act of 2012
  • HR 4628 Related bill Interest Rate Reduction Act
  • HR 4816 Related bill Stop the Rate Hike Act of 2012
  • HR 5812 Related bill Investing in Our Student's Future Act
  • S 2051 Related bill A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.
  • S 2366 Related bill Interest Rate Reduction Act
  • S 2834 Related bill Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012
 Bill text 1 version

Source documents hosted by congress.gov.

 Cosponsors 10
All 10 Democratic 9 Independent 1
D
Schumer, Charles E.
New York · May 7, 2012
 D
Blumenthal, Richard
Connecticut · Apr 26, 2012
 D
Gillibrand, Kirsten E.
New York · Apr 26, 2012
 D
Merkley, Jeff
Oregon · Apr 26, 2012
 D
Murray, Patty
Washington · Apr 26, 2012
 I
Sanders, Bernard
Vermont · Apr 26, 2012
 D
Whitehouse, Sheldon
Rhode Island · Apr 26, 2012
 D
Wyden, Ron
Oregon · Apr 26, 2012
 D
Durbin, Richard J.
Illinois · Apr 25, 2012
 D
Reed, Jack
Rhode Island · Apr 25, 2012
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2343: Stop the Student Loan Interest Rate Hike Act of 2012. 112th Congress. Open America. https://openamerica.io/bill/112-S-2343/
MLA
"S. 2343: Stop the Student Loan Interest Rate Hike Act of 2012." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-2343/.
Bluebook (legal)
S. 2343, 112th Cong. (2026), https://openamerica.io/bill/112-S-2343/.
Markdown link
[S. 2343: Stop the Student Loan Interest Rate Hike Act of 2012](https://openamerica.io/bill/112-S-2343/)
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