electED.

HR 8045 · 119th Congress — Student Loan Interest Elimination Act

Student Loan Interest Elimination Act This bill eliminates interest on existing and new federal student loans beginning on July 1, 2026. Specifically, for existing federal student loans, the bill directs the Department of Education (ED)…

Congress
119
Bill
HR 8045
Status
Introduced
Introduced
2026-03-24
Latest action date
2026-03-24

Summary

Student Loan Interest Elimination Act This bill eliminates interest on existing and new federal student loans beginning on July 1, 2026. Specifically, for existing federal student loans, the bill directs the Department of Education (ED) to establish and implement procedures to (1) modify the terms of Federal Direct Loans so that beginning on July 1, 2026, no interest would accrue on such a loan; and (2) allow a borrower to opt out of this loan modification. Additionally, ED must establish and implement procedures to (1) refinance eligible loans that are not Federal Direct Loans (e. g. Right now, the latest action is: Sent to the Education and Workforce Committee and the Budget Committee. Each committee will review the parts it handles. The listed sponsor is Rep. Courtney, Joe [D-CT-2] [D].

This summary may describe an earlier version. Check the official record for current wording.

Latest action

Referred to the Committee on Education and Workforce, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Sources