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Category: Legislation

Overview of STEM Education Bills Recently Introduced

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Several bills have been introduced this summer surrounding the issue of STEM Education from elementary school through college, with the aim of increasing access for students to these subjects and preparing them for the 21st century workforce. Below is a quick overview and analysis of a few of these bills that we have been keeping our eye on.

HR 2159 – 21st Century STEM Competitive Jobs Act
Sponsor: Representative Bill Foster (D-IL)
Introduced: 5/23/13
Current Status: Referred to the House Committee on Education and the Workforce
Summary: This legislation aims to solve the problem that many employers face, which is that students are not adequately prepared for what the field needs. The goal is to encourage schools and employers to partner together to develop curriculum and program metrics, provide dual high school and college credit, and include an internship or apprenticeship as part of the program. The bill would provide competitive grants to school districts who collaborate with employers.

Foster Press Release

HR 2592 – STEM Innovation Networks Act of 2013
Sponsor: Representative Mike Honda (D-CA)
Introduced: 6/28/13
Current Status: Referred to the House Committee on Education and the Workforce
Summary: Similar to Representative Foster’s bill, this piece of legislation also encourages public-private partnerships and creates a grant program to promote this. In addition, the bill also supports the development of teachers who prepare students for post-secondary schooling and employment in STEM fields.

**Washington Congressmen Rick Larsen and Jim McDermott are Cosponsors of this bill.

Honda Press Release

S 1407 – Computer Science Education and Jobs Act of 2013
Sponsor: Senator Bob Casey (D-PA)
Introduced: 7/31/13
Current Status: Referred to the Senate Committee on Health, Education, Labor, and Pensions
Summary: This is a bipartisan bill that Senator Casey introduced with Senator Marco Rubio (R-FL) to address the issue of a lack of computer science education in K-12 schools. The Senators’ claim that computer science is the primary driver for job growth in the STEM fields, and increasing access and exposing children to computer science education at the elementary and secondary school levels will pique their interest and position themselves for high-skilled, good-paying jobs in the future. The legislation aims to clarify federal policies to make sure that computer science programs in states are eligible for federal funding.

Casey Press Release

Student Loan Bill Approved by Congress

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Last night, the House approved the Bipartisan Student Loan Certainty Act (HR 1911). This bill:

  • Sets the annual interest rate on Direct Stafford loans and Direct Unsubsidized Stafford loans issued to undergraduate students at the rate on high-yield 10-year Treasury notes plus 2.05%, but caps that rate at 8.25%;
  • Sets the annual interest rate on Direct Unsubsidized Stafford loans issued to graduate or professional students at the rate on high-yield 10-year Treasury notes plus 3.6%, but caps that rate at 9.5%, and;
  • Sets the annual interest rate on Direct PLUS loans at the rate on high-yield 10-year Treasury notes plus 4.6%, but caps that rate at 10.5%.

The President is expected to sign the bill.

HR 1911 is in response to the recent increase in student loan rates from 3.4 percent up to 6.8 percent. Congress calls the bill a compromise but not a perfect solution to rising interest rates. The UW hopes that Congress will revisit this issue when they take up the Higher Education Act later this year.

House to take up Senate-passed Student Loan Deal Today

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The House is expected to consider and vote on a bipartisan student loan deal that passed the Senate last week on an 81-18 vote. The deal ties interest rates to the rate on 10-year treasury bonds.  The bill is intended to be a long-term solution and also a retroactive fix to July 1st of this year when loan rates doubled from 3.4% to 6.8%. The legislation will set interest rates this year at 3.86% for all new undergraduate Stafford loans, 5.4% for graduate Stafford loans, and 6.4% for PLUS loans. Caps for loans are set at 8.25% for undergraduate loans, 9.5% for graduate loans, and 10.5% for PLUS loans. While this means that undergraduate loan rates for the next couple of years will hover around a low 4%, there’s a potential that eventually rates could rise higher than they are now before they bump up against the caps.

The vote is set to take place this evening and is expected to pass.

 

Continuing Resolution Looking Likely

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House Republican leadership is beginning to discuss the possibility of a stopgap spending measure – or continuing resolution (CR) – to keep the government running past the end of the federal fiscal year on September 30th. Discussions are beginning earlier than usual this year due to disagreements between the House and Senate are so large that neither side is optimistic that they can reach a resolution before then.

At this point, it is unclear as to whether the GOP will push for a simple extension at the FY13 level of roughly $988 billion for discretionary spending or try to draw up a stopgap bill at the roughly $967 billion level now written into federal law. Also unclear is how long the CR will last to keep the government funded. One thing is for sure: House Republicans will not work with the $1.058 trillion level for discretionary spending advocated by Senate Democrats.

In the midst of all this, House and Senate Appropriators continue to move bills forward in their respective chambers. The House Appropriations Committee is on track to end this week with 10 of its 12 FY14 bills approved. In addition to the work on the Labor-HHS-Education bill, the Interior-Environment panel marks up its draft on Tuesday and the full committee acts Wednesday on the State-Foreign Operations bill.

Senate leadership will attempt to bring their first FY14 spending bill – Transportation-HUD – to the Senate floor for consideration Tuesday. Senate appropriators are slated to approve this week the Financial Services and State-Foreign Operations measures, the ninth and 10th annual measures to move through the committee. The Senate Defense bill is expected to be marked up next week, the last work week before the August recess.

Bipartisan Agreement Reached on Student Loan Rates

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A bipartisan group of senators appear to have reached a deal that would provide a long-term fix to student loan rates, allowing them to increase up to a ceiling of 8.25 percent. Lawmakers on both sides of the aisle are supporting the compromise, which also would bring both subsidized and unsubsidized Stafford loans under the same interest rate for the first time. The rate on unsubsidized loans doubled on July 1st from 3.4 percent to 6.8 percent.

Under the new compromise plan, the rates for all undergraduate student loans would be harmonized. Currently, unsubsidized Stafford loans carry a higher rate than subsidized loans, which are available to lower-income borrowers. Under the bill, all undergraduate students would take out loans equal to the 10-year Treasury bond plus 2.05 percent — a deal that would bring student borrowing rates back down to 3.86 percent in 2013.

Graduate students, and loans taken out by parents on behalf of their children, would also get have their rates tied to Treasury bonds, and receive caps of 9.25 percent and 10.5 percent, respectively. Graduate loans would be set to Treasury bond rates plus 3.6 percent, and the so-called PLUS loans for parents would be equal to that rate plus 4.6 percent.

Senate Majority Leader Harry Reid (D-NV) said that he hoped to move the bill quickly, before Congress breaks for the August recess – and before students and parents have to sign loan documents for the 2013-14 academic year.