To amend the Higher Education Act of 1965 to set interest rates for Federal student loans made on or after July 1, 2026, at 2 percent, and for other purposes.

# HR 7810 Summary **What the Bill Would Do** This bill would lower the interest rate on federal student loans to 2 percent for all new loans issued starting July 1, 2026. Currently, federal student loan interest rates are set by Congress and vary by loan type, typically ranging from about 5-8 percent depending on market conditions and the type of loan. If passed, this bill would significantly reduce the cost of borrowing for students taking out new federal loans. **Who It Affects** The bill would directly benefit students and families taking out federal student loans after the July 2026 date. It could also indirectly affect taxpayers, since federal student loans are government-backed and changes to interest rates could impact federal revenues.

Existing borrowers with current loans would not be affected by this change. **Current Status** HR 7810 is currently in committee and has not yet been voted on by the full House. The bill was introduced by Representative Mike Thompson (D-California). The phrase "and for other purposes" in the title suggests there may be additional provisions beyond the interest rate change, though specific details are not provided in this summary.