Text: S.1775 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in Senate (10/13/2009)


111th CONGRESS
1st Session
S. 1775


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

October 13, 2009

Mr. Bayh (for himself, Mr. Sessions, Mr. Bennet, Mr. Lieberman, Mr. Inhofe, Mr. Whitehouse, Mr. Nelson of Nebraska, Mr. Baucus, Mr. Schumer, Mr. Specter, Ms. Klobuchar, Mr. Udall of Colorado, Mr. Bingaman, and Mr. Dodd) 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.