H.R. 9441 is a bill that proposes to amend the Higher Education Act of 1965 to lower interest rates on Federal Direct student loans. It aims to cap the interest rate at a maximum of 3 percent for Federal Direct Stafford Loans, Unsubsidized Stafford Loans, and PLUS Loans for...
Simple Explanation
H.R. 9441 is a plan to make it cheaper for students to borrow money for college by lowering the interest rates on certain student loans to no more than 3 percent starting in July 2024. This change is meant to help students pay less money back to the government when they take out new loans to go to school.