MINNEAPOLIS (WCCO) — Sen. Amy Klobuchar introduced a bill that would provide some help for military members who take out student loans.
The Servicemembers Student Loan Interest Relief Act is co-sponsored by a Republican Sen. James Inhofe from Oklahoma.
Under current law, the accrual of interest on a federal student loan is stopped when a servicemember is deployed. However, the law only applies to loans granted since October 2008.
“Many servicemembers are still paying back their student loans and the struggle with dealing with payments and accumulating interest adds another burden to their shoulders when they should be thinking about other important matters,” said Klobuchar.
The bill Klobuchar proposed would erase the 2008 date and benefit any student loan by a military member.