House Passes Student Loan Interest Rate Bill
January 25, 2002 - The House of Representatives Jan. 23 approved legislation (S.
1762) designed to establish fixed interest rates on education loans
under the Federal Stafford Loan program. Under the bill, the existing
interest rate calculation is extended until July 1, 2006. Loans made
after than time will carry a fixed interest rate of 6.8 percent. Both
the higher education and lending communities support this compromise
legislation. S. 1762 passed the Senate by unanimous consent on Dec.
14, and failed to pass the House under suspension of the rules on Dec.
20 due to procedural matters. President Bush is expected to sign the
bill.
Information: Jonathan Fishburn, Director, Research, Education and Veterans' Legislative Affairs
AAMC Office of Governmental Relations
jfishburn@aamc.org
(202) 828-0525
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