To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.

Referred to the Subcommittee on Higher Education and Workforce Training.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Aug 2, 2013

Amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow a borrower of a loan under the William D. Ford Federal Direct Loan program to modify the interest rate on such a loan so that its interest rate is equal to the interest rate it would bear if first disbursed at the time of modification.

Fixes that interest rate for the life of the loan, unless the borrower elects to modify it again.

Read the summary on Congress.gov

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People & committees

Who introduced it

Rep. Pocan, Mark [D-WI-2] · D–WI

Committees

Education and Workforce Committee

4 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Sep 13, 2013
Referred to the Subcommittee on Higher Education and Workforce Training.
Aug 2, 2013
Referred to the House Committee on Education and the Workforce.
Aug 2, 2013
Introduced in House
Aug 2, 2013
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Aug 2, 2013 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Mar 23, 2026. Consult Congress.gov for the current record.

AI Conversation Starters

Explore the bill from different angles

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Neutral evidence review

Objective

Analyze H.R.3047 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss H.R.3047, 113th Congress: To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.

Official record: https://www.congress.gov/bill/113th-congress/house-bill/3047

Text version to examine: Introduced in House · 2013-08-02.

Official full text: https://www.congress.gov/113/bills/hr3047/BILLS-113hr3047ih.htm

Imported record last updated by the source: 2026-03-23T12:44:53Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.3047 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.3047 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.3047, 113th Congress: To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.

Official record: https://www.congress.gov/bill/113th-congress/house-bill/3047

Text version to examine: Introduced in House · 2013-08-02.

Official full text: https://www.congress.gov/113/bills/hr3047/BILLS-113hr3047ih.htm

Imported record last updated by the source: 2026-03-23T12:44:53Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3047 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.3047 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.3047, 113th Congress: To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.

Official record: https://www.congress.gov/bill/113th-congress/house-bill/3047

Text version to examine: Introduced in House · 2013-08-02.

Official full text: https://www.congress.gov/113/bills/hr3047/BILLS-113hr3047ih.htm

Imported record last updated by the source: 2026-03-23T12:44:53Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3047 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.3047 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.3047, 113th Congress: To authorize borrowers of loans under the William D. Ford Federal Direct Loan Program to modify the interest rate of such loans to be equal to the interest rate for such loans at the time of modification.

Official record: https://www.congress.gov/bill/113th-congress/house-bill/3047

Text version to examine: Introduced in House · 2013-08-02.

Official full text: https://www.congress.gov/113/bills/hr3047/BILLS-113hr3047ih.htm

Imported record last updated by the source: 2026-03-23T12:44:53Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.3047 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.