In CommitteeFiled Mar 4, 2026
Sponsor: Rep. Thompson, Mike [D-CA-4] (D)
Latest Action
Referred to the House Committee on Education and Workforce.
Mar 4, 2026
Summary
The Lowering Student Loans Act would cap the interest rate on new and existing Federal Direct Stafford, Unsubsidized, PLUS, and consolidation loans at 2% beginning July 1, 2026. Borrowers with loans that currently carry higher rates could opt out of the reduction, and the Department of Education must notify borrowers and loan servicers. The change aims to make student debt cheaper for current and future borrowers.
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