"A new bipartisan proposal in Congress aims to slash interest rates on federal student loans to just 2%, a dramatic drop from the 6% to 9% rates that most borrowers have today," Forbes reports.

..."The fact that this initiative is bipartisan could be a key part of its political appeal. Lawler, the bill’s author, is a first-term Republican known for crossing the aisle (the press release for the bill notes that he is considered one of the most bipartisan members of Congress). Teaming up with Moskowitz, a Democrat, and Luna, a conservative Republican, potentially signals an attempt to build a coalition that spans the political spectrum on the issue of student loan interest. This could improve the bill’s odds in the GOP-controlled House of Representatives, as it aligns with Republican interests and attracts some Democratic support. Indeed, the National Association of Student Financial Aid Administrators and other education groups applauded the act’s introduction. NASFAA called it an 'equitable approach that would help ease the burden of student loan debt on current and future borrowers.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 4/9/2025