United States 113th Congress Status: Died 1 D cosponsors

S 1266 — Refinancing Education Funding to Invest (REFI) for the Future Act of 2013

Last action — Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Refinancing Education Funding to Invest (REFI) for the Future Act of 2013 - Directs the Secretary of the Treasury, upon determining that borrowers are unable to secure adequate credit accommodations with existing private education loans, to establish credit facilities to: (1) accommodate reasonable loan adjustments that reduce the likelihood that borrowers become delinquent or default on their loans, (2) benefit borrowers that are most likely to have private student debt service obligations that represent a disproportionate share of their income, and (3) ensure that borrowers pay lower interest rates that are commensurate with credit risk so that they can pursue more economically productive activities. Requires the decision that borrowers are unable to secure adequate credit accommodations to be made by the Secretary jointly with the Secretary of Education and the Bureau of Consumer Financial Protection (CFPB). Prohibits the establishment of such credit mechanisms from resulting in any net cost to the federal government. Directs the Secretary of the Treasury to conduct a national awareness campaign to alert all private education loan borrowers who may benefit from those credit facilities or programs. Terminates any activities initiated through such a credit facility three years after such facility is established or not later than five years after this Act's enactment. Expresses the sense of the Congress that federal financial institutions and federally chartered private entities should consider the timely use of their available authorities to assist borrowers of private education loans in refinancing such loans in a manner that results in no increased costs to taxpayers.

Bill Text

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Read S 1266 on the official United States source →

Action History

  1. Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance education
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Frequently asked questions

What does S 1266 do?
Refinancing Education Funding to Invest (REFI) for the Future Act of 2013 - Directs the Secretary of the Treasury, upon determining that borrowers are unable to secure adequate credit accommodations with existing private education loans, to establish credit facilities to: (1) accommodate reasonable loan adjustments that reduce the likelihood that borrowers become delinquent or default on their loans, (2) benefit borrowers that are most likely to have private student debt service obligations that represent a disproportionate share of their income, and (3) ensure that borrowers pay lower interest rates that are commensurate with credit risk so that they can pursue more economically productive activities. Requires the decision that borrowers are unable to secure adequate credit accommodations to be made by the Secretary jointly with the Secretary of Education and the Bureau of Consumer Financial Protection (CFPB). Prohibits the establishment of such credit mechanisms from resulting in any net cost to the federal government. Directs the Secretary of the Treasury to conduct a national awareness campaign to alert all private education loan borrowers who may benefit from those credit facilities or programs. Terminates any activities initiated through such a credit facility three years after such facility is established or not later than five years after this Act's enactment. Expresses the sense of the Congress that federal financial institutions and federally chartered private entities should consider the timely use of their available authorities to assist borrowers of private education loans in refinancing such loans in a manner that results in no increased costs to taxpayers.
Who sponsors S 1266?
S 1266 is sponsored by Sherrod Brown (D).
What is the current status of S 1266?
This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 1266?
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