The bill S. 4645, titled the “Servicemember Student Loan Affordability Act of 2024,” proposes amendments to the Servicemembers Civil Relief Act. It aims to extend the 6% interest rate cap to debts incurred by servicemembers during military service, specifically for...
Simple Explanation
The bill wants to help people in the military by making sure they only have to pay a low-interest rate of 6% on certain student loans while they are serving. This is to make it easier for them and their families to pay back loans they took before joining the military.