Representative Anna Paulina Luna (R-Fla.) is done waiting around. On Wednesday, she announced she's moving to force a House vote on legislation that would cap federal student loan interest rates at 2%, calling student debt "an American issue," not a partisan one.
In a CNN interview with Wolf Blitzer alongside Rep. Jared Moskowitz (D-Fla.)—which she later shared on X—Luna said her discharge petition would bring H.R. 2003, the Affordable Loans for Students Act, straight to the House floor. A discharge petition is a procedural Hail Mary: if a majority of House members sign on, it bypasses leadership and forces a vote. It's a tool for when you're tired of waiting for committee chairs or Speaker schedules.
"This is not a bailout," Luna said. "This is about making sure Americans who are trying to build a better future don't have to spend their whole lives trying to pay off their debts." She described the current system as trapping borrowers in "indentured servitude."
Moskowitz, a Democrat from Florida, co-sponsored the bill alongside Rep. Mike Lawler (R-N.Y.). He pointed out the math problem: "It's very hard to pay principal when you're at 6%, 7%, 8%. You're mostly paying interest." At 2%, more of each payment would actually eat into the loan balance.
Why Now? The July 1 Deadline
The timing isn't random. On July 1, major changes to the federal student loan system kick in. The Department of Education recently announced a temporary interest-rate reduction of up to 1% for borrowers enrolled in auto pay through June 2028—a small Band-Aid. But the bigger story is the wind-down of the SAVE plan, the income-driven repayment program that the Biden administration launched and the courts later blocked.
More than 300,000 borrowers have already left SAVE, and millions more are in transition. If they don't pick a new repayment plan soon, their monthly payments could jump significantly. Higher education expert Mark Kantrowitz estimated the typical SAVE borrower carries about $57,000 in debt at a 6.7% interest rate. At 2%, that same borrower would save thousands over the life of the loan.
Delinquency Crisis
The financial pressure is already showing. Federal Reserve Bank of New York data released earlier this year showed delinquent student debt hit a record $171.4 billion in the first quarter of 2026. Millions of borrowers are behind or in default.
Earlier this month, Senator Elizabeth Warren (D-Mass.) and more than 60 Democratic lawmakers urged the Trump administration to provide relief and delay collections on defaulted loans, warning that policy changes could push more Americans into financial distress.
Luna's bill wouldn't cancel any debt—it would just cap the interest rate on future and existing federal loans at 2%. She says that could provide immediate relief to roughly 42 million Americans with student loans, helping them pay down balances faster without the political baggage of broad forgiveness.
"To be clear: this is not a bailout," Luna reiterated. "This is about making sure Americans who are trying to build a better future don't have to spend their whole lives trying to pay off their debts."
