The new rates of interest capped for loans were enacted. (filife.com)
Service members Civil Relief Act Interest Cap: This program was created to help keep the interest rate on student loans from skyrocketing while a service member is away on active duty. (studentloans.net)
To shirk the law, first they partnered with banks, since banks, which are regulated by the federal government, can legally offer loans exceeding state interest caps. (businessinsider.com)