Trump Says He Might Support Student Loan Interest Cap

What happened: President Donald Trump said on Saturday he might support a bill capping federal student loan interest at 2.5 percent. Rep. Anna Paulina Luna said in an X post that Trump will support the cap. Key numbers: Newer federal student loans carry rates of 6.52 percent to 9.07 percent. In June, 42.6 million people held $1.7 trillion in federal student loans. Why it matters: The issue has been circulating in Congress, with Rep. Michael Lawler's bill and a Democratic proposal to eliminate interest offering competing approaches. Courtney said student debt affects 43 million borrowers.

President Donald Trump said on Saturday he might support a bill capping federal student loan interest at 2.5 percent. Rep. Anna Paulina Luna said in an X post that Trump will support the cap.

The issue has been circulating in Congress, with Rep. Michael Lawler's bill and a Democratic proposal to eliminate interest offering competing approaches. Courtney said student debt affects 43 million borrowers.