Lower Interest Rates On The Horizon If Student Loan Bill Passes Ms. Bels Friday, August 9, 2013 The Receipt, Your Money and You President Barack Obama is scheduled to sign into law new student loan terms which will reduce interest rates. The law will affect the student loan recipients who are currently enrolled in school, graduates, and individuals who have had outstanding loans for years. The new law would affect over 11 million borrowers and will help save thousands of dollars over the lifespan of their loans. Once the new law is in place, it is speculated that current loan interest rates will be adjusted and fixed. Here’s a look at what interest rates to expect: