# 119-hr-7810: Lowering Student Loans Act

119-hr-7810, Lowering Student Loans Act, is a 119th Congress bill sponsored by Rep. Thompson, Mike [D-CA-4] (D-CA); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-7810
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7810
- Congress: 119
- Title: Lowering Student Loans Act
- Status: introduced
- Introduced: 2026-03-04
- Sponsor: Rep. Thompson, Mike [D-CA-4] (D-CA)
- Cosponsors: 2
- Policy area: Education
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**This bill would set a uniform 2 percent interest rate on federal student loans first disbursed on or after July 1, 2026 and align many existing and consolidation loans to that rate.** It would fix that rate for the life of affected loans and require notice and opt-out rights for borrowers before changes take effect. - New direct loan borrowers: Loans first disbursed on or after July 1, 2026 would carry a 2 percent fixed interest rate on the unpaid principal. - Existing borrowers: Direct loans with first disbursement before July 1, 2026 that have interest rates above 2 percent would be reset to 2 percent on July 1, 2026, with at least 90 days' written notice and a 90-day opt-out window. - Consolidation and FFEL borrowers plus servicers: Direct consolidation loans received on or after July 1, 2026 would receive the 2 percent rate and FFEL borrowers could consolidate into the Direct Loan program to obtain 2 percent. The Education Department must notify loan servicers at least 90 days before July 1, 2026 and establish a borrower complaint process for errors or delays related to the adjustments.

## Cosponsors (2)

- Del. Moylan, James C. [R-GU-At Large] (R-GU), 2026-03-04T00:00:00.000Z
- Del. Norton, Eleanor Holmes [D-DC-At Large] (D-DC), 2026-04-09T00:00:00.000Z

## Provisions PRIA read

- 2% interest for federal student loans: benefit, medium. If enacted, this bill would set a fixed 2% interest rate for new Federal Direct loans first disbursed on or after July 1, 2026. Direct consolidation loans with applications received on or after July 1, 2026 would also get the 2% rate. For many existing Direct loans and qualifying existing Direct co…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-6900: American Affordability Act of 2025
- 119-hr-8870: BUILD America 250 Act
- 119-hr-4669: FEMA Act of 2025
- 119-hr-7973: Momnibus Act

## Sources
- [119-hr-7810 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7810)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-6900: American Affordability Act of 2025](https://policyrisk.com/legislation/119-hr-6900)
- [119-hr-8870: BUILD America 250 Act](https://policyrisk.com/legislation/119-hr-8870)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7810 (as of 2026-04-21).