Skip to main content
HR 1979 113th Congress House

Bank on Students Loan Fairness Act

Official title: To prevent the doubling of the interest rate for Federal subsidized student loans for the 2013-2014 academic year by providing funds for such loans through the… Show full official titleShow less

Official title: To prevent the doubling of the interest rate for Federal subsidized student loans for the 2013-2014 academic year by providing funds for such loans through the Federal Reserve System, to ensure that such loans are available at interest rates that are equivalent to the interest rates at which the Federal Government provides loans to banks through the discount window operated by the Federal Reserve System, and for other purposes.

Introduced: June 3, 2013 See on congress.gov
Education Education programs fundingGovernment lending and loan guaranteesHigher educationInterest, dividends, interest ratesStudent aid and college costs
Sign in to write a letter Sign in to watch
This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 8, 2013
Referred to the Subcommittee on Higher Education and Workforce Training.
May 14, 2013
Referred to the House Committee on Education and the Workforce.
May 14, 2013
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action July 8, 2013

Referred to the Subcommittee on Higher Education and Workforce Training.

 Plain-English summary Congressional Research Service

Bank on Students Loan Fairness Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Board of Governors of the Federal Reserve System to provide the Secretary of Education, from the combined earnings of the Federal Reserve System, with the amount the Secretary determines to be reasonably necessary to award Direct Stafford Loans during the award year beginning July 1, 2013, to all eligible students attending participating institutions of higher education selected by the Secretary.

Prohibits appropriated funds from being used for Direct Stafford Loans made during that period.

Sets the interest rate on Direct Stafford Loans first disbursed on or after July 1, 2013, and before July 1, 2014, at the primary credit rate charged by the Federal Reserve banks on July 1, 2013.

 Related & companion bills 1
  • S 897 Identical bill Bank on Students Loan Fairness Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 13
All 13 Democratic 5
Schwartz, Allyson
· Jun 11, 2014
 D
Clark, Katherine M.
Massachusetts · Feb 27, 2014
MCDERMOTT, JIM
· Jul 16, 2013
 D
Garamendi, John
California · Jun 27, 2013
 D
Markey, Edward J.
Massachusetts · Jun 13, 2013
Shea-Porter, Carol
· Jun 13, 2013
 D
DeGette, Diana
Colorado · Jun 3, 2013
Ellison, Keith
· Jun 3, 2013
Grayson, Alan
· May 20, 2013
LOWEY, NITA
· May 20, 2013
 D
Waters, Maxine
California · May 16, 2013
CUMMINGS, ELIJAH
· May 14, 2013
HOLT, RUSH
· May 14, 2013
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1979: Bank on Students Loan Fairness Act. 113th Congress. Open America. https://openamerica.io/bill/113-HR-1979/
MLA
"H.R. 1979: Bank on Students Loan Fairness Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-1979/.
Bluebook (legal)
H.R. 1979, 113th Cong. (2026), https://openamerica.io/bill/113-HR-1979/.
Markdown link
[H.R. 1979: Bank on Students Loan Fairness Act](https://openamerica.io/bill/113-HR-1979/)
Report a problem