,,ii  #aac? ,,congress  #a/ ,session    
,s4 #fhb  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,april #i1 #bjac ,mr4  
,coburn 7= himself1 ,mr4 ,burr1 & ,mr4  
,alex&]7 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on  
,heal?1 ,education1 ,labor1 & ,p5sions  
,a ,,bill  ,to am5d ! ,high] ,education 
,act ( #aife to reset int]e/ rates = new
 /ud5t loans4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,compreh5sive ,/ud5t   
,loan ,protection ,act 4  #b4 ,int]e/   
rates "u ! ,direct ,loan ,program       
,section #dee7;b77#g7 ( ! ,high]        
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;e7b77#g77 is am5d$ by add+ at !   
end ! foll[+3  7,e7 ,int]e/ rate        
provision = new loans aft] ,july #a1    
#bjac  7i7 ,9 g5]al ,not)/&+ ! prec$+   
p>agraphs ( ?is subsection or           
subp>agraph 7,a7 or 7,b71 = ,f$]al      
,direct ,/af=d ,loans1 ,f$]al ,direct   
,unsubsidiz$ ,/af=d ,loans1 & any ,f$]al
 ,direct ,,plus ,loan1 = :i* ! fir/     
disbursem5t is made on or aft] ,july #a1

 #bjac1 ! applicable rate ( int]e/ %all1
 dur+ any #ab-mon? p]iod beg9n+ on ,july
 #a & end+ on ,june #cj1 be det]m9$ on !
 prec$+ ,june #a & be equal to--  7,i7 !
 bond equival5t rate ( #aj-ye> ,treasury
 bills auction$ at ! f9al auction held  
prior to su* ,june #a2 plus  7,,ii7 #c4j
 p]c5t4  7ii7 ,consultation ,! ,secret>y
 %all det]m9e ! applicable rate ( int]e/
 "u ?is subp>agraph aft] consultation ) 
! ,secret>y ( ! ,treasury & %all publi% 
su* rate 9 ! ,f$]al ,regi/] z soon z    
practicable aft] ! date ( det]m9ation4  
7iii7 ,rate ,! applicable rate ( int]e/ 
det]m9$ "u clause 7i7 = a ,f$]al ,direct
 ,/af=d ,loan1 a ,f$]al ,direct         
,unsubsidiz$ ,/af=d ,loan1 or a ,f$]al  
,direct ,,plus ,loan %all be fix$ = !   
life ( ! ,loan4  4  #c4 ,sav+s = deficit
 r$uction  7a7 ,9 g5]al ,n lat] ?an #a  
ye> aft] ! date ( enactm5t ( ?is ,act1 !
 ,comptroll] ,g5]al ( ! ,unit$ ,/ates   
%all det]m9e ! sav+s to ! ,f$]al        
,gov]nm5t result+ f ! am5dm5t made by   
section #b4  7b7 ,am\nt ,to be us$ =    

deficit r$uction ,any sav+s det]m9$ "u  
subsection 7a7 %all be transf]r$ to !   
,treasury = deficit r$uction4  #d4      
,det]m9ation ( budget>y effects ,!      
budget>y effects ( ?is ,act1 = ! purpose
 ( comply+ ) ! ,/atutory ,pay-,z-,y-,g  
,act ( #bjaj1 %all be det]m9$ by ref]5ce
 to ! late/ /atem5t titl$ ,budget>y     
,effects ( ,,paygo ,legislation = ?is   
,act1 submitt$ = pr9t+ 9 !              
,congressional ,record by ! ,*airman ( !
 ,s5ate ,budget ,committee1 provid$ t   
su* /atem5t has be5 submitt$ prior to ! 
vote on passage4