Sec. 4. Applicable rates of interest for loans made on or after the first July 1 after the date of enactment of the Affordable Loans for Students Act
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Section 455(b)(8) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(b)(8) ) is amended— in the paragraph heading, by inserting after and before the first July 1 after the date of enactment of the Affordable Loans for Students Act ; July 1, 2013 in subparagraph (A), by inserting and before the first July 1 after the date of enactment of the Affordable Loans for Students Act after July 1, 2013 ; in subparagraph (B), by inserting and before the first July 1 after the date of enactment of the Affordable Loans for Students Act after July 1, 2013 ; in subparagraph (C), by inserting and before the first July 1 after the date of enactment of the Affordable Loans for Students Act after July 1, 2013 ; in subparagraph (D), by inserting and before the first July 1 after the date of enactment of the Affordable Loans for Students Act after July 1, 2013 ; by redesignating subparagraph
(F)as subparagraph (G); and by inserting after subparagraph
(E)the following: Notwithstanding the preceding subparagraphs of this paragraph, for Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, Federal Direct PLUS Loans, and Federal Direct Consolidation Loans for which the first disbursement is made, or the application is received, on or after the first July 1 after the date of enactment of the Affordable Loans for Students Act, the applicable rate of interest shall be 2.0 percent on the unpaid principal balance of the loan. .
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Sec. 4
Applicable rates of interest for loans made on or after the first July 1 after the date of enactment of the Affordable Loans for Students Act
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