Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012

Summary

Subsidized Stafford Loan Reduced Interest Rate Extension 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. Improper Payments Elimination and Recovery Improvement Act of 2012 - Requires the Director of the Office of Management and Budget (OMB) to: (1) identify, on an annual basis, a list of high-priority federal programs for greater levels of oversight and review of improper payments; (2) coordinate with agencies responsible for administering high-priority programs to establish semi-annual or quarterly targets and actions for reducing improper payments; and  (3) provide guidance to agencies for improving estimates of improper payments. Requires federal agencies to: (1) make quarterly reports to their Inspectors General on any high-dollar improper payments identified by such agencies, and (2) review prepayment and preaward procedures and available databases to determine program or award eligibility and prevent improper payments before releasing any federal funds.  Establishes a Do Not Pay List based on information from databases maintained by the federal government, including the database of the Social Security Administration (SSA) reporting deaths of Social Security recipients. Requires the Director to: (1) determine the current and historical rates and amounts of recovery of improper payments and targets for recovering improper payments, and (2) establish a plan for at least 10 Recovery Audit Contracting programs to identify and recover overpayments and underpayments in 10 agencies. 

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 May 2012

   Introduced

   Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

   Source: IntroReferral

2. 7 May 2012

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 7 May 2012 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 May 2012

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 May 2012

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 7 May 2012

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Brown, Scott P. [R-MA] · R · Sponsor
• · ssga00 · Standing

Related records

• related to → To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.
• related to → Improper Payments Elimination and Recovery Improvement Act of 2012
• related to → Interest Rate Reduction Act
• related to → Stop the Rate Hike Act of 2012
• related to → Investing in Our Student's Future Act
• related to → Improper Payments Elimination and Recovery Improvement Act of 2012
• related to → A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.
• related to → Stop the Student Loan Interest Rate Hike Act of 2012

Showing 8 of 9 related records.