David P. Smole
Specialist in Education Policy
To: The
Honorable George Miller
U.S.
House of Representatives
Atttention: Mark Zuckerman
This memorandum is prepared
in response to your request for analysis of the potential effects on borrowers
of a proposal to amend the formulas used to set the interest rates charged to
borrowers of federal student loans made through the William D. Ford Federal Direct
Loan (DL) program.1 You asked for a comparison of the total interest that
future borrowers of DL program loans might pay on loans made according to three
interestrate scenarios: (1) loans made with fixed interest rates as specified
under current law, (2) loans made with variable interest rates as proposed
under H.R. 1911, the Smarter Solutions for Students Act, and (3) loans made
with the fixed interest ratescurrently in effect permanently extended.2 You also asked for
this analysis to be prepared for several cases of student and parent borrowers
that you identified.
Date of Report: May 15, 2013
Number of Pages: 8
Order Number: M-051513
Price: $19.95
To Order:
M-051513.pdf
to use the SECURE SHOPPING CART
e-mail congress@pennyhill.com
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301-253-0881
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