[Congressional Record Volume 155, Number 158 (Wednesday, October 28, 2009)]
[Extensions of Remarks]
[Page E2647]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     INTRODUCING THE SERVICEMEMBER STUDENT LOAN INTEREST RELIEF ACT

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                          HON. SUSAN A. DAVIS

                             of california

                    in the house of representatives

                      Wednesday, October 28, 2009

  Mrs. DAVIS of California. Madam Speaker, our brave student 
servicemembers defending the United States in Iraq, Afghanistan and 
other countries abroad are often charged interest on their federal 
college student loans while deployed. Because this interest is costly 
and unfair, I rise today to introduce the Servicemember Student Loan 
Interest Relief Act to end the practice.
  This legislation builds upon a provision included in the Higher 
Education Opportunity Act (H.R. 4137) in the 110th Congress, which 
prevents interest from accruing on loans originated after October 2008 
during activations. The provision provided important relief to 
servicemembers who intended to take out loans in the future, but it did 
not address those who currently had student loan debt.
  The bill I introduce today corrects that issue and provides interest 
relief to all active duty servicemembers with eligible loans. Our 
students in uniform could save up to $1,479 during a 12- to 15-month 
activation under this bill, according to estimates.
  As our servicemembers put themselves in harm's way, the least we can 
do is put their student loans on hold until they return home. I'm 
pleased to work with Senator Bayh on this important issue.
  I urge passage of this legislation and yield back the balance of my 
time.

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