Campaign position · legislative priority · Original date not established
Lower student loan interest rates
AI-assisted summary
Garamendi’s Student Loan Refinancing and Recalculating Act would set the interest rate at 3.23% for all borrowers, lowering the stated rates for undergraduate, graduate, and parent and graduate PLUS loans. The proposal is intended to reduce borrowing costs for students and parents.
Context: The passage gives the proposed rates but does not specify how or when borrowers could refinance or recalculate their loans.