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Code · BILL · 117th Congress · H.R. 4725 (Introduced in House) — To provide for the relief of interest on certain Federal student loans. · Sec. 2

Sec. 2. Zero-interest rates for borrowers of Federal student loans

216 words·~1 min read·/bill/117/hr/4725/ih/section-2

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Section 427A of the Higher Education Act of 1965 ( 20 U.S.C. 1077a ) is amended by adding at the end the following: Notwithstanding any other provision of this section or this Act, with respect to any loan made, insured, or guaranteed under this part for which the first disbursement is made on or before July 1, 2010, the applicable rate of interest shall be zero on the unpaid principal balance of the loan. . Section 455(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(b) ) is amended by adding at the end the following:
Notwithstanding the preceding paragraphs of this subsection or any other provision of this Act, with respect to any loan made under this part for which the first disbursement is made on or after July 1, 2022, the applicable rate of interest shall be zero, and shall be fixed for the period of the loan. Notwithstanding the preceding paragraphs of this subsection or any other provision of this Act, with respect to any loan made under this part for which the first disbursement is made before July 1, 2022, the applicable rate of interest shall be zero on the unpaid principal balance of the loan. .
The amendments made by this section shall take effect on July 1, 2022.
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Sec. 2
Zero-interest rates for borrowers of Federal student loans
U.S.C.§ 1077a
U.S.C.§ 1087e
Cites 2Cited by 0 across 0 sources
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