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Zero Interest on Federal Student Loans

This bill aims to eliminate interest on federal student loans. This means students and graduates with such loans will no longer pay additional interest costs, potentially significantly reducing their total debt. These changes are set to take effect on July 1, 2022.
Key points
Starting July 1, 2022, all federal student loans (both new and existing) will have a zero interest rate.
Borrowers with FFEL loans disbursed before July 1, 2010, will also benefit from zero interest on their remaining balance.
This change could lower monthly payments and the total repayment cost for millions of Americans with student debt.
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Expired
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Additional Information
Print number: 117_HR_4725
Sponsor: Rep. Swalwell, Eric [D-CA-15]
Process start date: 2021-07-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

No Student Loan Interest Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4725.

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 2021-07-27.

What are the main provisions?

Key points include:

  • Starting July 1, 2022, all federal student loans (both new and existing) will have a zero interest rate.
  • Borrowers with FFEL loans disbursed before July 1, 2010, will also benefit from zero interest on their remaining balance.
  • This change could lower monthly payments and the total repayment cost for millions of Americans with student debt.
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. Swalwell, Eric [D-CA-15].

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 2025-12-28.

CATEGORIES

Education Benefits Economy