WashingtonWatch.com Digest – July 8, 2013
This is the WashingtonWatch.com email newsletter for the week of July 8, 2013. Subscribe (free!) here.
On the Blog: Student Loans
The rates on new student loans increased as of July 1st. But Congress is coming to the rescue!
Read about the House-passed bill and the competing Senate bills in a post entitled:”‘Student Loan Rates to Increase’.”
This week, the House and Senate return from the July 4th week off.
Rates for certain new student loans rose on July 1st, and the Senate is expected to debate ways of resetting student loan interest rates.
One option is S. 1238, the Keep Student Loans Affordable Act of 2013. That bill would lower the rate on new, subsidized Stafford loans back to 3.4%, the rate prior to July 1st, for one year. Congress would have to return to the issue again soon.
Another option is represented by S. 1241, the Bipartisan Student Loan Certainty Act. That bill would establish loan rates that are tied to 10-year Treasury bill rates and that reset each year.
S. 1241 is similar to a House-passed bill, H.R. 1911, The Smarter Solutions for Students Act.
Neither of the Senate bills have cost estimates. H.R. 1911 saves about $22 per U.S. family.
The Keep Student Loans Affordable Act of 2013
The Bipartisan Student Loan Certainty Act
What People Think
Displayed below are new, updated, and passed items with their cost or savings per family.
The Audit Integrity and Job Protection Act
Costs $0.01 per family
A bill to reauthorize the Reclamation States Emergency Drought Relief Act of 1991, and for other purposes
Costs $0.12 per family
A bill to amend the Reclamation Wastewater and Groundwater Study and Facilities Act to authorize the Secretary of the Interior to participate in the City of Hermiston, Oregon, water recycling and reuse project, and for other purposes
Costs $0.06 per family
The Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2014
Costs $1,089.59 per family
The Energy and Water Development and Related Agencies Appropriations Act, 2014
Costs $363.70 per family
The Border Security, Economic Opportunity, and Immigration Modernization Act
Costs $5,678.11 per family