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85
HOUSE BILL
SENATE BILL
COMMENTS
1
paragraph shall, during any 12-month period begin-
2
ning on July 1 and ending on June 30, be deter-
3
mined on the preceding June 1 and be equal to-
4
"(A) the bond equivalent rate of 91-day
5
Treasury bills auctioned at the final auction
6
prior to such June 1; plus
7
"(B) 2.5 percent,
8
except that such rate shall not exceed 8.25 per-
9
cent.".
10 SEC. 12023. LENDER AND STUDENT LOAN FEES.
11
Section 438 of the Act (20 U.S.C. 1087-1) is
57. The Senate bill, but not the House bill, lowers the
origination fee from 5 percent to 3 percent on Stafford, SLS
12 amended—
and PLUS loans.
13
(1) in the heading of subsection (c) by inserting
14
"FROM STUDENTS" after "ORIGINATION FEES":
15
(2) in subsection (c)—
16
(A) in paragraph (2)-
17
(i) by striking "428B,":
18
(ii) by inserting ``, and part D" after
19
"439(o)"; and
20
(iii) by striking "5 percent" and in-
21
serting "3.0 percent";
22
(B) in paragraph (6), by striking "5 per-
23
cent" and inserting "3.0 percent`;
24
(3) by redesignating subsections (d) and (e) as
25
subsections (e) and (f), respectively: and
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