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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Mar 17, 2017.
Student Loan Refinancing Act
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to allow a borrower of a Federal Direct Loan program loan to modify the interest rate on such a loan to the current applicable rate. That interest rate is fixed for the life of the loan, unless the borrower elects to modify it again.
