U.S. Rep. Dennis Ross (FL-15) voted in support of the Senate Amendment to H.R. 1911, the Bipartisan Student Loan Certainty Act of 2013. This is a market-based approach for Stafford (both undergraduate and graduate) and PLUS student loans and only affects new student loans; student loans that have already been obtained will not be affected.
"The government should not be in the student loan business; it is an inefficient use of hard-earned taxpayer dollars," said Ross. "We must leave lending to the lending institutions."
* The House passed H.R. 1911 on May 23, 2013. The Senate passed its amendment to H.R. 1911 on July 24, 2013.
* Under the Senate Amendment to H.R. 1911, the interest rates are fixed for the life of the loan and are not variable.