Student Loan Accrual Support and Help Act or the SLASH Act
This bill sets the annual interest rate on all Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, and Federal Direct PLUS Loans disbursed on or after July 1, 2020, at an amount equal to the lesser of (1) the high-yield 10-year Treasury notes, or (2) 5%.
The bill also revises the method for calculating the applicable interest rate on a Federal Direct Consolidation Loan.
It also fixes the interest rate on such loans for the period of the loan.
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