H.R. 3748, The Servicemember Student Loan Interest Relief Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3748 would amend the Federal Direct Loan Program to provide that interest shall not accrue on Federal Direct Loans for active duty service members.

Detailed Summary

Servicemember Student Loan Interest Relief Act - Amends the Higher Education Act of 1965 to provide that no interest shall accrue on student loans under the Federal Direct Loan program for individuals who are serving on active duty or performing National Guard duty during a war or other military operation or national emergency. Limits receipt of such benefit to 60 months.

Requires the Secretary of Education to offer direct consolidation loans to eligible service members who want to avoid the accrual of interest on existing loans.

Status of the Legislation

Latest Major Action: 10/4/2007: Referred to House committee. Status: Referred to the House Committee on Education and Labor.

Points in Favor

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Points Against

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