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
Plain-English summary
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
Referred to the House Committee on Education and Labor.
Committees of jurisdiction
1