H.R. 5- The College Student Relief Act of 2007
Amends the Higher Education Act of 1965 to phase-in interest rate cuts charged to undergraduate student borrowers under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs. Gradually reduces student loan rates from 6.8 percent in July 2006 to 3.4 percent by July 2011.
Friday, January 12, 2007