- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Education and LaborHealth, Employment, Labor, and PensionsHigher Education and Workforce InvestmentWorker and Family SupportCommittee on Ways and MeansIntroducedJune 28th, 2013
- house Committees
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Keep Student Loans Affordable Act of 2013
To amend the Higher Education Act of 1965 to extend the current reduced interest rate for undergraduate Federal Direct Stafford Loans for 1 year, to modify required distribution rules for pension plans, and for other purposes.
Keep Student Loans Affordable Act of 2013 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to extend the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2013, to Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2014. Amends the Internal Revenue Code to modify rules for required distributions from tax-exempt pension plans to an employee who dies before such employee's entire interest is distributed to require such interest to be distributed within five years after the death of such employee, subject to exceptions for an eligible designated beneficiary and surviving spouse of such employee. Defines "eligible designated beneficiary" to include a disabled or chronically-ill individual. Exempts from such modification a binding annuity contract in effect on the enactment date of this Act.