[Congressional Record Volume 153, Number 151 (Friday, October 5, 2007)]
[Extensions of Remarks]
[Page E2078]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     INTRODUCTION OF SERVICE-MEMBER STUDENT LOW INTEREST RELIEF ACT

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                          HON. SUSAN A. DAVIS

                             of california

                    in the house of representatives

                       Thursday, October 4, 2007

  Mrs. DAVIS of California. Madam Speaker, I rise today to introduce 
the Servicemember Student Loan Interest Relief Act--a bill to ease the 
financial burden on our men and women in uniform.
  When servicemembers of the Armed Forces are deployed overseas, the 
last thing they want to worry about is how they will be able to afford 
their student loan payments when they get back. But that is the reality 
for thousands of our Nation's servicemembers today.
  Although current law grants servicemembers a deferment on paying back 
their student loans while they are on active duty, the interest on 
these loans still keeps accruing during their service. When our men and 
women in uniform return from months and sometimes years of service, 
many of them come home to student loan debt that has ballooned during 
their absence and that they will have to struggle to pay back.
  The Servicemember Student Loan Interest Relief Act stops student loan 
interest from accruing as long as a servicemember is on active duty, up 
to maximum of 5 years. This bill will apply to active duty 
servicemembers of any branch of the military, including reserve units 
and the National Guard.
  According to the Congressional Research Service, the legislation I am 
introducing today will save the average servicemember between $1,183 
and $1,479 over the course of a 12-15 month activation period, with 
even more savings realizable for those activated for longer periods.
  Military service requires those who serve our country to make 
tremendous sacrifices--personally, professionally, and financially. Let 
us give our brave men and women the peace of mind of knowing that after 
defending us on the front lines, they will not return home to bill 
collectors and creditors breaking down their doors.
  Help me serve our Nation's bravest while they are off serving us. 
Support the Servicemember Student Loan Interest Rate Relief Act.

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