H.R. 2003, titled the "Affordable Loans for Students Act," proposes changes to the Higher Education Act of 1965 to lower the interest rates on federal student loans to 2 percent. The bill outlines the creation of a program to automatically modify existing eligible federal loans to have a 2...
Simple Explanation
H.R. 2003 wants to make it cheaper for students to borrow money for school by lowering the interest they pay on their loans to just 2%. It also suggests ways to make this change happen automatically for students who already have these loans.