119th Congress · introduced in the House · Mar 10, 2025
Affordable Loans for Students Act
Official title from Congress.gov
Latest action (Mar 10, 2025): Referred to the House Committee on Education and Workforce.
View on Congress.govPolicy area: Education
Congressional Research Service summary, version: Introduced in House (Mar 10, 2025)
Affordable Loans for Students Act
This bill sets the interest rate at 2% for new and existing federal student loans. (Currently, interest rates on federal student loans range from 6.53% to 9.08%, depending on the loan type.)
Specifically, the bill directs the Department of Education (ED) to establish and implement procedures to modify the terms of federal student loans held by ED so the applicable rate of interest shall be 2% on the unpaid principal balance of the loan. ED must modify the interest rate without any action from the borrower.
Additionally, ED must establish and implement procedures to (1) refinance eligible loans that are not held by ED (e.g., privately held Federal Family Education Loans and Perkins Loans) as consolidation loans, and (2) allow a borrower to opt out of this loan refinancing. The bill outlines the terms and conditions of these refinanced loans, including by prohibiting ED from charging origination fees and by setting the interest rate at 2% on these loans.
The bill applies the 2% interest rate to new loans (i.e., federal student loans made beginning on the first July 1 after the bill's enactment) and also applies this rate retroactively to existing loans.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Education and Workforce.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
Congressional oversight · Government lending and loan guarantees · Higher education · Interest, dividends, interest rates · Student aid and college costs
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 24, 2026.
8 citations.
NATIONAL EDUCATION ASSOCIATION · lobbying firm or registrant: NATIONAL EDUCATION ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 24, 2026 · issue area: Education
$670,000
Spent on own lobbying
…chools Native American Schools/Forest County Schools E-Rate Child Nutrition Graduated Corporate Tax Act S 4297/HR 8800, FY27 National Defense Authorization Act HR 2003, Affordable Loans for Students Act HR 9260, Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 2027 HR 72…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Education
$60,639
Spent on own lobbying
…6 Informed Student Borrowers Act of 2026 H.R. 6739 Clarity in Professional Degree Act H.R. 6718 Professional Student Degree Act S. 4915 AI Labeling Act of 2026 H.R. 2003 Affordable Loans for Students Act S. 4435 Improving Financial Aid Offers for Students Act H.R.10515 Artificial Intelligence Education and Workforce Readiness A…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL EDUCATION ASSOCIATION · lobbying firm or registrant: NATIONAL EDUCATION ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 23, 2026 · issue area: Education
$670,000
Spent on own lobbying
…, of the rule submitted by the Department of Education relating to "Reimagining and Improving Student Education-Federal Student Loan Program Final Regulations" HR 2003, Affordable Loans for Students Act HR 7567, Farm, Food & National Security Act S 4864, PUPIL Act S 4914/HR 9467, Green Ribbon Act H J Res 155, Providing for co…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Education
$37,531
Spent on own lobbying
…larity in Professional Degree Act H.R. 6718 Professional Student Degree Act S. 4915 AI Labeling Act of 2026 H.R. 9414 Pell Grant Preservation and Expansion Act H.R. 2003 Affordable Loans for Students Act S. 4435 Improving Financial Aid Offers for Students Act
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Education
$77,042
Spent on own lobbying
…mes Act of 2025 H.R. 3985 Helping Student Parents Succeed Act H.R. 4054 Accreditation Choice and Innovation Act H.R. 433 Department of Education Protection Act H.R. 2003 Affordable Loans for Students Act H.R. 6392 Home School Graduation Recognition Act H.R. 6472 Territorial Student Access to Higher Education Act H.R. 6498 Stude…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · amended · posted Jan 28, 2026 · issue area: Education
$33,817
Spent on own lobbying
…mes Act of 2025 H.R. 3985 Helping Student Parents Succeed Act H.R. 4054 Accreditation Choice and Innovation Act H.R. 433 Department of Education Protection Act H.R. 2003 Affordable Loans for Students Act H.R. 6392 Home School Graduation Recognition Act H.R. 6472 Territorial Student Access to Higher Education Act H.R. 6498 Stude…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Education
$56,081
Spent on own lobbying
…mes Act of 2025 H.R. 3985 Helping Student Parents Succeed Act H.R. 4054 Accreditation Choice and Innovation Act H.R. 433 Department of Education Protection Act H.R. 2003, Affordable Loans for Students Act Respond, Innovate, Succeed, and Empower Act of 2025
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
AMERICAN COUNCIL ON EDUCATION · lobbying firm or registrant: AMERICAN COUNCIL ON EDUCATION
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Education
$92,652
Spent on own lobbying
…mes Act of 2025 H.R. 3985 Helping Student Parents Succeed Act H.R. 4054 Accreditation Choice and Innovation Act H.R. 433 Department of Education Protection Act H.R. 2003, Affordable Loans for Students Act
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing