Sec. 2. Provision of funds for 2013–2014 Federal Direct Stafford Loans
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Section 451 of the Higher Education Act of 1965 ( 20 U.S.C. 1087a ) is amended by adding at the end the following: The Board of Governors of the Federal Reserve System shall make available to the Secretary, from the combined earnings of the Federal Reserve System, the amount determined by the Secretary to be reasonably necessary to award Federal Direct Stafford Loans during the award year beginning July 1, 2013, to all eligible students in attendance at participating institutions of higher education selected by the Secretary to enable such students to pursue their courses of study at such institutions.
The Federal Direct Stafford Loans funded under this subsection for the award year beginning July 1, 2013, shall be administered by the Secretary and shall be made in accordance with the requirements, and be subject to all terms and conditions, of this part, except that appropriations provided under the first sentence of subsection
(a)shall not be used for any Federal Direct Stafford Loans made during such period. .
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Sec. 2
Provision of funds for 2013–2014 Federal Direct Stafford Loans
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