II 111th CONGRESS 1st Session S. 1775 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.

1.

Short title

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

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.