[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1911 Engrossed in House (EH)]
113th CONGRESS
1st Session
H. R. 1911
_______________________________________________________________________
AN ACT
To amend the Higher Education Act of 1965 to establish interest rates
for new loans made on or after July 1, 2013, to direct the Secretary of
Education to convene the Advisory Committee on Improving Postsecondary
Education Data to conduct a study on improvements to postsecondary
education transparency at the Federal level, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. TABLE OF CONTENTS.
The table of contents for this Act is as follows:
Sec. 1. Table of Contents.
TITLE I--SMARTER SOLUTIONS FOR STUDENTS ACT
Sec. 101. Short title.
Sec. 102. Student loan interest rates.
Sec. 103. Budgetary effects.
TITLE II--IMPROVING POSTSECONDARY EDUCATION DATA FOR STUDENTS ACT
Sec. 201. Short title.
Sec. 202. Study on improvements to postsecondary education transparency
at the Federal level.
TITLE I--SMARTER SOLUTIONS FOR STUDENTS ACT
SEC. 101. SHORT TITLE.
This title may be cited as the ``Smarter Solutions for Students
Act''.
SEC. 102. STUDENT LOAN INTEREST RATES.
Section 455(b) of the Higher Education Act of 1965 (20 U.S.C.
1087e(b)) is amended--
(1) in paragraph (7)--
(A) in the paragraph heading, by inserting ``, and
before july 1, 2013'' after ``2006'';
(B) in subparagraph (A), by inserting ``and before
July 1, 2013,'' after ``2006,'';
(C) in subparagraph (B), by inserting ``and before
July 1, 2013,'' after ``2006,''; and
(D) in subparagraph (C), by inserting ``and before
July 1, 2013,'' after ``2006,'';
(2) by redesignating paragraphs (8) and (9) as paragraphs
(9) and (10), respectively; and
(3) by inserting after paragraph (7), the following:
``(8) Interest rate provision for new loans on or after
july 1, 2013.--
``(A) Rates for fdsl and fdusl.--Notwithstanding
the preceding paragraphs of this subsection, for
Federal Direct Stafford Loans and Federal Direct
Unsubsidized Stafford Loans for which the first
disbursement is made on or after July 1, 2013, the
applicable rate of interest shall, during any 12-month
period beginning on July 1 and ending on June 30, be
determined on the preceding June 1 and be equal to--
``(i) the high-yield 10-year Treasury notes
auctioned at the final auction held prior to
such June 1; plus
``(ii) 2.5 percent,
except that such rate shall not exceed 8.5 percent.
``(B) PLUS loans.--Notwithstanding the preceding
paragraphs of this subsection, for any Federal Direct
PLUS Loan for which the first disbursement is made on
or after July 1, 2013, the applicable rate of interest
shall, during any 12-month period beginning on July 1
and ending on June 30, be determined on the preceding
June 1 and be equal to--
``(i) the high-yield 10-year Treasury notes
auctioned at the final auction held prior to
such June 1; plus
``(ii) 4.5 percent,
except that such rate shall not exceed 10.5 percent.
``(C) Consolidation loans.--Notwithstanding the
preceding paragraphs of this subsection, any Federal
Direct Consolidation Loan for which the application is
received on or after July 1, 2013, shall bear interest
at an annual rate on the unpaid principal balance of
the loan that is equal to the weighted average of the
interest rates on the loans consolidated, rounded to
the nearest higher one-eighth of one percent.''.
SEC. 103. BUDGETARY EFFECTS.
(a) Paygo Scorecard.--The budgetary effects of this Act shall not
be entered on either PAYGO scorecard maintained pursuant to section
4(d) of the Statutory Pay-As-You-Go Act of 2010.
(b) Senate Paygo Scorecard.--The budgetary effects of this Act
shall not be entered on any PAYGO scorecard maintained for purposes of
section 201 of S. Con. Res. 21 (110th Congress).
TITLE II--IMPROVING POSTSECONDARY EDUCATION DATA FOR STUDENTS ACT
SEC. 201. SHORT TITLE.
This title may be cited as the ``Improving Postsecondary Education
Data for Students Act''.
SEC. 202. STUDY ON IMPROVEMENTS TO POSTSECONDARY EDUCATION TRANSPARENCY
AT THE FEDERAL LEVEL.
(a) Formation of Advisory Committee on Improving Postsecondary
Education Data.--
(1) In general.--Not later than 30 days after the date of
enactment of this Act, the Secretary of Education shall convene
the Advisory Committee on Improving Postsecondary Education
Data (in this Act referred to as the ``Advisory Committee''),
which shall be comprised of 15 members who represent
economically, racially, and geographically diverse populations
appointed by the Secretary in consultation with the
Commissioner for Education Statistics, including--
(A) individuals representing different sectors of
institutions of higher education, including individuals
representing undergraduate and graduate education;
(B) experts in the field of higher education
policy;
(C) State officials;
(D) students and other stakeholders from the higher
education community;
(E) representatives from the business community;
(F) experts in choice in consumer markets;
(G) privacy experts;
(H) college and career counselors at secondary
schools;
(I) experts in data policy, collection, and use;
and
(J) experts in labor markets.
(2) Chairperson.--The Secretary shall appoint the
Chairperson of the Advisory Committee.
(b) Study Required.--The Advisory Committee shall conduct a study
examining--
(1) the types of information, including information related
to costs of postsecondary education, sources of financial
assistance (including Federal student loans), student outcomes,
and postgraduation earnings, the Federal Government should
collect and report on institutions of higher education to
assist students and families in their search for an institution
of higher education;
(2) how such information should be collected and reported,
including how to disaggregate information on student outcomes
by subgroups of students, such as full-time students, part-time
students, nontraditional students, first generation college
students, students who are veterans, and Federal Pell Grant
recipients under subpart 1 of part A of title IV of the Higher
Education Act of 1965 (20 U.S.C. 1070a); and
(3) the ways in which the Federal Government may make such
information more readily available to--
(A) students and their families in a format that is
easily accessible and understandable, and will aid
students and their families in making decisions; and
(B) States, local governments, secondary schools,
individual or groups of institutions of higher
education, and private-sector entities.
(c) Scope of Study.--In conducting the study under this Act, the
Advisory Committee shall, at a minimum, examine--
(1) whether the current Federal transparency initiatives on
postsecondary education--
(A) are reporting consistent information about
individual institutions of higher education across
Federal agencies; and
(B) are similar to transparency initiatives on
postsecondary education carried out by States,
individual or groups of institutions of higher
education, or private-sector entities;
(2) whether--
(A) the collection and reporting of postgraduation
earnings by the Federal Government is feasible, and if
feasible, the options for collecting and reporting such
information;
(B) collecting and reporting such information would
improve the use of Federal transparency initiatives and
ease decisionmaking for students and their families;
and
(C) collecting and reporting such information would
have an impact on student privacy, and if so, how such
impact may be minimized;
(3) whether any other information, including information
relating to student outcomes or identified under the review
required under subsection (d), should be collected and reported
by the Federal Government to improve the utility of such
initiatives for students and their families, and if so, how
such information may be collected and reported, including
whether the information should be disaggregated by subgroups of
students;
(4) whether any information currently collected and
reported by the Federal Government on institutions of higher
education is not useful for students and their families and
should not be so collected and reported;
(5) the manner in which the information from Federal
transparency initiatives is made available to students and
their families, and whether format changes may help the
information become more easily understood and widely utilized
by students and their families;
(6) any activities being carried out by the Federal
Government, States, individual or groups of institutions of
higher education, or private-sector entities to help inform
students and their families of the availability of Federal
transparency initiatives;
(7) the cost to institutions of higher education of
reporting to the Federal Government the information that is
being collected and reported through Federal transparency
initiatives, and how such cost may be minimized; and
(8) the relevant research described in subsection (d).
(d) Review of Relevant Research.--In conducting the study under
this Act, the Advisory Committee shall review and consider--
(1) research and studies, if any, that have been conducted
to determine questions most frequently asked by students and
families to help inform their search for an institution of
higher education;
(2) the types of information students seek before enrolling
in an institution of higher education;
(3) whether the availability to students and their families
of additional information on institutions of higher education
will be beneficial or confusing;
(4) results, if any, that are available from consumer
testing of Federal, State, institution of higher education, and
private-sector transparency initiatives on postsecondary
education that have been made publicly available on or after
the date that is 10 years before the date of enactment of this
Act; and
(5) any gaps in the research, studies, and results
described in paragraphs (1) and (4) relating to the types of
information students seek before enrolling in an institution of
higher education.
(e) Consultation.--
(1) In general.--In conducting the study under this Act,
the Advisory Committee shall--
(A) hold public hearings to consult with parents
and students; and
(B) consult with a broad range of interested
parties in higher education, including appropriate
researchers, representatives of secondary schools
(including college and career counselors) and
institutions of higher education from different sectors
of such institutions (including undergraduate and
graduate education), State administrators, and Federal
officials.
(2) Consultation with the authorizing committees.--The
Advisory Committee shall consult on a regular basis with the
authorizing committees in conducting the study under this Act.
(f) Reports to Authorizing Committees.--
(1) Interim report.--Not later than 180 days after the date
of enactment of this Act, the Advisory Committee shall prepare
and submit to the authorizing committees and the Secretary an
interim report describing the progress made in conducting the
study under this Act and any preliminary findings on the topics
identified under subsection (c).
(2) Final report.--
(A) In general.--Not later than 1 year after the
date of enactment of this Act, the Advisory Committee
shall prepare and submit to the authorizing committees
and the Secretary a final report on the study,
including--
(i) recommendations for legislative,
regulatory, and administrative actions based on
findings related to the topics identified under
subsection (c); and
(ii) a summary of the research described in
subsection (d).
(B) Consultation with 0NCES.--The Advisory
Committee shall consult with the Commissioner of
Education Statistics prior to making recommendations
under subparagraph (A)(i) with respect to improving the
information being collected and reported by the Federal
Government on institutions of higher education.
(g) Availability of Funds.--The amount necessary to conduct the
study under this Act shall be made available from amounts available to
the Secretary for administrative expenses of the Department of
Education.
(h) Definitions.--For purposes of this Act:
(1) Authorizing committees.--The term ``authorizing
committees'' has the meaning given the term in section 103 of
the Higher Education Act of 1965 (20 U.S.C. 1003).
(2) First generation college student.--The term ``first
generation college student'' has the meaning given the term in
section 402A(h) of the Higher Education Act of 1965 (20 U.S.C.
1070a-11(h)).
(3) Institution of higher education.--The term
``institution of higher education'' has the meaning given the
term in section 102 of the Higher Education Act of 1965 (20
U.S.C. 1002), except that such term does not include
institutions described in subsection (a)(1)(C) of such section
102.
(4) Secondary school.--The term ``secondary school'' has
the meaning given the term in section 9101 of the Elementary
and Secondary Education Act of 1965 (20 U.S.C. 7801).
(5) Secretary.--The term ``Secretary'' means the Secretary
of Education.
(6) State.--The term ``State'' has the meaning given the
term in section 103 of the Higher Education Act of 1965 (20
U.S.C. 1003).
(7) Student.--The term ``student'' includes--
(A) a prospective student;
(B) a student enrolled in an institution of higher
education;
(C) a nontraditional student (as defined in section
803(j)(2) of the Higher Education Act of 1965 (20
U.S.C. 1161c(j)(2))); and
(D) a veteran (as defined in section 480(c)(1) of
such Act (20 U.S.C. 1087vv(c)(1))) who is a student or
prospective student.
Passed the House of Representatives May 23, 2013.
Attest:
Clerk.
113th CONGRESS
1st Session
H. R. 1911
_______________________________________________________________________
AN ACT
To amend the Higher Education Act of 1965 to establish interest rates
for new loans made on or after July 1, 2013, to direct the Secretary of
Education to convene the Advisory Committee on Improving Postsecondary
Education Data to conduct a study on improvements to postsecondary
education transparency at the Federal level, and for other purposes.