S.897: Bank On Students Loan Fairness Act
UFAA urgently supports S.897, Sen Elizabeth Warren's "Bank on Students" Loan Fairness Act, mandating that the Federal Reserve provide 0.75% credit for federal student loans (Stafford loans) via the US Department of Education. Aside from the substantial benefits in interest savings to American students, this is crucially the first major bill to force the Fed to provide cheap credit for a social good. If passed, Bank On Students will open the floodgates for an era of cheap, long-term federal credit for productive and socially necessary purposes.













