A new Bill could help US Military Service Members with their student loan interest… “The measure, co-sponsored by Senators Evan Bayh (D-IN), Michael Bennet (D-CO) and Jeff Sessions (R-AL), would stop interest from accruing on Federal Direct Student Loans for service members who are serving in Iraq, Afghanistan and in hostile areas abroad.
“Military families and soldiers already have enough to worry about during deployment without the added burden of student loan interest,” said Klobuchar. “This bill will provide real help for our nation’s bravest.”
According to the Congressional Research Service, service members serving in hostile areas would save on average between $1,183 and $1,479 over a 12-15 month active duty period.
Currently, soldiers in hostile areas do not receive a suspension of interest if their loans originated after October 2008. The legislation introduced would include all soldiers serving in hostile areas who have Federal Direct Student Loans.”
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