HR. 8045In Committee
Student Loan Interest Elimination Act
Eliminates interest on existing and new federal student loans starting July 1, 2026, and creates a trust fund structure to support federal loan administration and supplemental Pell Grants
Plain-English overview
What this bill does
Eliminates interest on existing and new federal student loans starting July 1, 2026, and creates a trust fund structure to support federal loan administration and supplemental Pell Grants
Key points
- Establish Education Affordability Trust Fund
- Modify Direct Loan terms
- Allow Supplemental Pell Grant funding
- Refinance eligible non Direct loans
Current status
Where it stands
Status
In Committee
Latest action
2026-03-24 — 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.
Related context
Topics and policy areas
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