Search Results: keywords:"loan modification program"

  • 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.

  • H. R. 2003 — To amend the Higher Education Act of 1965 to lower the interest rate on Federal student loans to 2 percent.
    Status:Introduced in House
    Words:1,839

    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.