Higher Education Loan Plan Act of 2003

Summary

Higher Education Loan Plan Act of 2003 - Amends the Higher Education Act of 1965 to provide for variable interest rates on student (Stafford) loans, consolidation loans (which currently have fixed rates), and parent (PLUS) loans. Revises formulas for determining such variable interest rates for student loans, consolidation, loans, and parent loans based on the bond equivalent rate for 91-day Treasury bills and specified additional percentages. Caps at specified levels interest rates for new loans during an interim period from October 1, 1998, up to the enactment of this Act. Caps the interest rates for new loans on or after such enactment date for: (1) student loans and consolidation loans at 7.75 percent; and (2) parent loans at 8.5 percent.

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Timeline

1. 16 October 2003

   Introduced

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR 10/17/2003 S12741-12742)

   Source: IntroReferral

2. 16 October 2003

   Introduced

   Sponsor introductory remarks on measure. (CR 10/17/2003 S12741)

   Source: IntroReferral

3. 16 October 2003

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 16 October 2003 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 October 2003

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 October 2003

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 16 October 2003

  Open at official source

Sponsors

• Rep. Campbell, Ben Nighthorse [D-CO-3] · R · Sponsor
• · sshr00 · Standing

Related records

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