Sioux City Times

Today, U.S. Representative Randy Feenstra, from Hull, proposed legislation aimed at reducing student loan interest rates, specifically for states like Iowa. The proposed legislation would allow these states to make greater use of private activity bonds to facilitate student loans.

Feenstra emphasized his personal motivation for this initiative, stating, "As a father of four, ensuring that our kids have the resources that they need to pursue higher education and achieve future career goals is important to me. That includes lowering the cost of student loans and reducing financial barriers for Iowans who want to attend college but are prevented by the price tag."

He explained the legislative mechanism: "That’s why I introduced legislation to enable more low-interest-rate student loans to be issued by exempting Qualified Student Loan Bonds – which states like Iowa already utilize to help many students attend college – from the cap for Private Activity Bonds."

Feenstra further highlighted the broader impact of the legislation: "This investment in the next generation of leaders, innovators, and entrepreneurs will support our economy, lower interest rates on student loans, and give Iowa kids a more viable financial option when considering the full cost of college."