HR 2003
Affordable Loans for Students Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 13, 2026, 4:12 PM
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Affordable Loans for Students Act aims to lower the interest rate on federal student loans to 2% for borrowers. It does this by amending the Higher Education Act to establish a program for loan modification and refinancing, allowing borrowers to refinance their loans into Federal Direct Consolidation Loans at this lower rate. The bill also includes provisions to ensure that borrowers retain their original repayment terms and avoids charging origination fees for refinanced loans. Finally, it requires the Department of Education to report on the number of loans modified or refinanced under the act.
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