New bill could reshape student loan debt: Can interest rates be cut to 2%?
Student loan debt is a heavy burden for millions, but a new bipartisan bill is stirring hope that relief might be on the way. Introduced in March 2025 by Reps. Mike Lawler (R-N.Y.), Anna Paulina Luna (R-Fla.), and Jared Moskowitz (D-Fla.), the Affordable Loans for Students Act aims to slash federal student loan interest rates to just 2%-a steep drop from today's 6% to 9%. With $1.6 trillion in student debt weighing down borrowers, this proposal could be a game-changer if it passes. The bill's pitch is simple but powerful: lower interest rates across the board, retroactively applying the 2% cap to existing federal loans and automatically refinancing them-no paperwork required. "This is a game-changer for millions of Americans looking to build a better future without the weight of overwhelming student loan debt holding them back," Lawler said in a […]
