S 1139

112th CONGRESS
1st Session

S. 1139

To amend the Higher Education Act of 1965 to provide that interest shall not accrue on Federal Direct Loans for members of the Armed Forces on active duty regardless of the date of disbursement.

IN THE SENATE OF THE UNITED STATES

May 26, 2011

Ms. KLOBUCHAR (for herself, Mr. INHOFE, Mr. BENNET, Mr. COONS, Mr. NELSON of Nebraska, Mrs. MURRAY, Mr. BAUCUS, Mr. FRANKEN, and Mr. UDALL of Colorado) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions


A BILL

To amend the Higher Education Act of 1965 to provide that interest shall not accrue on Federal Direct Loans for members of the Armed Forces on active duty regardless of the date of disbursement.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `Servicemember Student Loan Interest Relief Act'.

SEC. 2. NO ACCRUAL OF INTEREST FOR MEMBERS OF THE ARMED FORCES ON ACTIVE DUTY.

    Section 455(o) of the Higher Education Act of 1965 (20 U.S.C. 1087e(o)) is amended--

      (1) in paragraph (1)--

        (A) by striking `paragraphs (2) and (4)' and inserting `paragraph (3)'; and

        (B) by striking `for which the first disbursement is made on or after October 1, 2008';

      (2) by striking paragraph (2); and

      (3) by redesignating paragraphs (3) and (4) as paragraphs (2) and (3), respectively.

END