3.0.0 8045 2026-09-19T23:23:49Z 2026-09-19T23:23:49Z House H HR 2026-03-24 119 https://www.congress.gov/bill/119th-congress/house-bill/8045 [Congressional Record Volume 172, Number 55 (Tuesday, March 24, 2026)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. COURTNEY:H.R. 8045.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H2676]]]> hsbu00 Budget Committee House Standing Referred To 2026-03-24T16:02:45Z hsed00 Education and Workforce Committee House Standing Referred To 2026-03-24T16:02:40Z Student Loan Interest Elimination Act 119 4169 S 2026-03-24 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Identical bill CRS 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. IntroReferral H11100 2 House floor actions hsbu00 Budget Committee 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. IntroReferral H11100 2 House floor actions hsed00 Education and Workforce Committee 2026-03-24 Introduced in House IntroReferral Intro-H 9 Library of Congress 2026-03-24 Introduced in House IntroReferral 1000 9 Library of Congress C001069 Rep. Courtney, Joe [D-CT-2] Joe Courtney D CT 2 N N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] Eleanor Norton D DC Holmes 0 2026-03-24 True E000296 Rep. Evans, Dwight [D-PA-3] Dwight Evans D PA 3 2026-04-22 False L000582 Rep. Lieu, Ted [D-CA-36] Ted Lieu D CA 36 2026-04-22 False L000593 Rep. Levin, Mike [D-CA-49] Mike Levin D CA 49 2026-04-27 False P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2026-06-18 False S000185 Rep. Scott, Robert C. "Bobby" [D-VA-3] Robert Scott D VA C. "Bobby" 3 2026-07-09 False W000808 Rep. Wilson, Frederica S. [D-FL-24] Frederica Wilson D FL S. 24 2026-07-14 False F000481 Rep. Figures, Shomari [D-AL-2] Shomari Figures D AL 2 2026-07-20 False Education Education 2026-04-21T16:26:55Z 00 2026-03-24 Introduced in House 2026-06-04T16:21:25Z 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 shall 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., privately held Federal Family Education Loans and Perkins Loans), and (2) allow a borrower to opt out of this loan refinancing. The bill outlines the terms and conditions of these refinanced loans, including by prohibiting ED from charging origination fees and specifying that no interest shall accrue on these loans.

For new federal student loans made on or after July 1, 2026, the bill sets the applicable interest rate at 0%.

The bill establishes the Education Affordability Trust Fund. ED must deposit all payments made on federal student loans into this trust fund. The Education Affordability Trust Fund Board, as established by this bill, must transfer the assets from investments of this trust fund to ED to pay for the administrative costs of carrying out federal student loan programs.

The bill allows ED to use excess amounts of funds in the trust fund to carry out a Supplemental Pell Grant Program.

]]> Student Loan Interest Elimination Act Display Title 45 Student Loan Interest Elimination Act 2026-09-19T23:23:49Z Short Title(s) as Introduced 101 Student Loan Interest Elimination Act 2026-04-16T04:53:26Z Introduced in House IH Official Title as Introduced 6 To amend the Higher Education Act of 1965 to eliminate interest on student loans, establish the Education Affordability Trust Fund, increase annual and aggregate loan limits, and for other purposes. 2026-04-16T04:48:35Z Introduced in House IH Introduced in House 2026-03-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr8045ih/xml/BILLS-119hr8045ih.xml 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. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.