Search Results: keywords:"interest rate reduction"

  • H. R. 9441 — To amend the Higher Education Act of 1965 to reduce the maximum interest rates for Federal Direct student loans, and for other purposes.
    Status:Introduced in House
    Words:427

    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.

  • H. R. 10159 — To amend the Higher Education Act of 1965 to lower the interest rate on Federal student loans to 1 percent.
    Status:Introduced in House
    Words:1,827

    The bill titled "Affordable Loans for Students Act" aims to amend the Higher Education Act of 1965 to reduce the interest rates on Federal student loans to 1%. It proposes to automatically modify existing federal student loans to have a 1% interest rate and allows refinancing options for...

    Simple Explanation

    The bill called the "Affordable Loans for Students Act" wants to make it so that all government student loans have just a 1% interest rate, helping students save money when paying back their loans.