Search Results: keywords:"interest capitalization"

  • H. R. 2829 — To amend the Higher Education Act of 1965 to improve the Public Service Loan Forgiveness program and reduce interest rates.
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    Status:Introduced in House
    Words:4,857

    H.R. 2829, also called the "SERVICE Act," aims to improve the Public Service Loan Forgiveness (PSLF) program and reduce interest rates for borrowers. The bill proposes several changes to the program, including the reduction of required monthly payments from 120 to 96, enhancements to the...

    Simple Explanation

    The bill wants to help students who borrowed money for college and work in public service by making it easier to have their loans forgiven sooner and pay less interest. It also talks about creating online tools to help them track their progress and find jobs that qualify for loan forgiveness.

  • S. 4686 — To amend the Higher Education Act of 1965 to require the disclosure of the annual percentage rates applicable to Federal student loans.
    Status:Introduced in Senate
    Words:364

    S. 4686 aims to amend the Higher Education Act of 1965 to ensure that borrowers are informed about the annual percentage rates (APR) on their federal student loans before they receive the funds. The bill requires each educational institution and its contractors to provide a...

    Simple Explanation

    S. 4686 wants to make sure students know exactly how much their school loans will cost them each year by telling them all the important details in writing, like interest rates and extra fees, before they get the money. This is to help students understand what they'll need to pay back in the future.