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New Bill Introduced to Reduce Student Loan Interest for Military Personnel

By June 28, 2011

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Senator Amy Klobuchar (D) has introduced a new bill aimed at softening the sacrifice made by active duty military personnel.

The Servicemember Student Loan Interest Relief Act stops the accrual of interest on outstanding student loans for any military personnel while on active duty. The law would amend an older law that limited this benefit only to loans issued after October 1, 2008. Under the new law, the date a loan was issued would be irrelevant.

To read the full text of the short law, click here.

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