OCAP Legislative Update

Interest Rate Legislation Passes

On Friday, June 29, Congress approved legislation preserving the 3.4 percent interest rate on subsidized Stafford loans for another year. The legislation went into effect July 1, 2012 and will impact subsidized loans originated between July 1, 2012 and June 30, 2013. The continued rate reduction was paid for, in part, by:

For additional information about July 1 changes and impacts on student aid, visit the U.S. Department of Educationís website.

Mary Heid
Director for Policy, Compliance & Training
OCAP Communications
P.O. Box 3000
Oklahoma City, OK 73101-3000