President Donald Trump has signaled that he could support at least one proposal to provide relief to student loan borrowers, right as Republicans head into the 2026 midterm elections. Specifically, Trump said he would consider legislation championed by Republican Representative Anna Paulina Luna of Florida that would cap federal student loan interest rates at 2.5 percent. "It’s something that I would certainly consider," Trump said.
The bill remains pending in the House Education and Workforce Committee. Luna's June 2026 resolution (H. Res. 1386) seeking to bring it to the House floor was referred to the House Rules Committee.
This would be a significant shift for an administration that has spent much of its second term reshaping federal repayment and forgiveness programs. Student debt is a major financial burden for Americans. The issue could again become politically significant heading into the midterms.
Trump's comments come as recent changes to the federal student loan system are putting additional pressure on borrowers. Under the Republican-backed One Big Beautiful Bill Act, repayment options have changed, and some borrowers, including certain Parent PLUS borrowers, have lost access to income-driven repayment and forgiveness options. Based on recent polls, borrowers also appear highly motivated to participate in the November elections.
A Student Debt Crisis Center survey found 92 percent of respondents said they planned to vote in the midterms. And nearly two-thirds said they had reduced spending on necessities including food, housing or health care because of higher student loan payments. Trump was asked over the weekend about legislation backed by Luna that would cap federal student loan interest rates at 2.5 percent.
"Yeah, I might because I think she's fantastic," Trump said. After praising Luna and describing her as an early supporter, Trump added: "It's something that I would certainly consider." Luna subsequently interpreted Trump's comments as support for her proposal. "@potus said he will support capping federal student loan interest rates at 2.5%!" Luna wrote on X.
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