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Student Loan Refinancing Act: Lower interest rates for federal borrowers.

This bill allows federal student loan borrowers to repeatedly modify their interest rates. Borrowers can lower their current rate to the rate applicable on the day they elect the change, potentially reducing monthly payments and the total cost of the loan. This provides significant financial flexibility in managing student debt.
Key points
Interest Rate Modification: Borrowers can elect to modify their loan interest rate to the current rate applicable on the date of modification.
Repeated Refinancing: The interest rate can be modified multiple times throughout the life of the loan, but only once every six months.
Applicable Loans: The change applies to Federal Direct Stafford, Unsubsidized Stafford, PLUS, and Consolidation Loans.
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Additional Information
Print number: 117_HR_2160
Sponsor: Rep. Pocan, Mark [D-WI-2]
Process start date: 2021-03-23
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Student Loan Refinancing Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2160.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-23.

What are the main provisions?

Key points include:

  • Interest Rate Modification: Borrowers can elect to modify their loan interest rate to the current rate applicable on the date of modification.
  • Repeated Refinancing: The interest rate can be modified multiple times throughout the life of the loan, but only once every six months.
  • Applicable Loans: The change applies to Federal Direct Stafford, Unsubsidized Stafford, PLUS, and Consolidation Loans.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Pocan, Mark [D-WI-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Education Economy