Bills · HR 7810
IN COMMITTEE· 119TH CONGRESS
House BillHR 7810Education
Lowering Student Loans Act
INTRO MAR 4· LAST ACTION MAR 4
READING
4MIN
COSPONSORS
2BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it could dramatically lighten the financial load of student loan debt for current and future generations. Student loan debt is a major issue in the U.S., impacting individuals' ability to buy homes, start businesses, or save for retirement. By setting a universal 2 percent interest rate, the bill directly addresses the high cost of borrowing for higher education, potentially freeing up billions of dollars for borrowers to invest in their lives and the economy.
If this bill becomes law, it would make college more accessible and affordable by reducing the long-term cost of education. For existing borrowers, lower interest rates mean smaller monthly payments and less interest paid over the life of the loan, providing immediate financial relief. If it doesn't pass, student loan interest rates will continue to fluctuate based on market conditions, remaining a significant financial burden for many and potentially contributing to broader economic stagnation due to consumer debt levels.
KEY PROVISIONS
5AI-extractedPROVISION 01
Sets interest rates for all new Federal Direct Stafford, Unsubsidized Stafford, and PLUS loans made on or after July 1, 2026, to a fixed 2 percent.
This provision ensures that future student and parent borrowers will face significantly lower costs for their education loans, making college more affordable.
PROVISION 02
Reduces interest rates to 2 percent for existing Federal Direct Stafford, Unsubsidized Stafford, PLUS, and Direct Consolidation Loans if their current rate is above 2 percent, effective July 1, 2026.
This retroactively benefits millions of current borrowers by lowering their monthly payments and the total amount of interest they will pay, providing substantial financial relief.
PROVISION 03
Allows borrowers with existing Federal Family Education Loan (FFEL) consolidation loans to reconsolidate them into a Federal Direct Consolidation Loan to qualify for the 2 percent interest rate.
This opens up the benefit of lower interest rates to a group of borrowers previously excluded from some federal loan benefits, ensuring broader relief.
PROVISION 04
Requires the Secretary of Education to notify borrowers of existing loan rate adjustments and allow them a 90-day period to opt out of the 2 percent rate change.
This ensures transparency and gives borrowers control over their loan terms, although most are expected to accept the lower rate.
PROVISION 05
Requires the fixed 2 percent interest rate for eligible loans to remain constant for the entire period of the loan.
This provides borrowers with predictable payments and financial stability, protecting them from future interest rate increases.
SPONSORSHIP
1 + 2
D· California
YRS IN OFFICE
27
BILLS LED
27
COSPONSOR BREAKDOWNBIPARTISAN · 100%
DEM 1 REP 1 IND 0
ACTION TIMELINE
2 EVENTSMAR 4
Introduced in House
MAR 4
Referred to the House Committee on Education and Workforce.
BILL INFO
TypeHouse Bill
NumberHR 7810
Congress119th
StatusIn Committee
IntroducedMar 4, 2026
Last actionMar 4, 2026
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IN COMMITTEE· 119TH CONGRESS · EDUCATION AND WORKFORCE COMMITTEE · INTRODUCED MAR 4, 2026
House BillHR 7810Education
Lowering Student Loans Act
INTRODUCED MAR 4, 2026· LAST ACTION MAR 4, 2026
PASSAGE CHANCES
—%
READING
4 min
COSPONSORS
2
COMPLEXITY
Moderate
