HR 3793 116th Congress House Education Administrative law and regulatory procedures Government lending and loan guarantees Higher education Interest, dividends, interest rates Student aid and college costs

SLASH Act

Introduced: July 17, 2019 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 17, 2019

Referred to the House Committee on Education and Labor.

Jul 17, 2019

Introduced in House

Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

Plain-English summary Congressional Research Service

Student Loan Accrual Support and Help Act or the SLASH Act

This bill sets the annual interest rate on all Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, and Federal Direct PLUS Loans disbursed on or after July 1, 2020, at an amount equal to the lesser of (1) the high-yield 10-year Treasury notes, or (2) 5%.

The bill also revises the method for calculating the applicable interest rate on a Federal Direct Consolidation Loan.

It also fixes the interest rate on such loans for the period of the loan.

What's happening now July 17, 2019

Referred to the House Committee on Education and Labor.

Bill text 1 version