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.