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Student Loan Interest Elimination Act
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Student Loan Interest Elimination Act This bill eliminates interest on existing and new federal student loans beginning on July 1, 2026. Specifically, for existing federal student loans, the bill directs the Department of Education (ED) to establish and implement procedures to (1) modify the terms of Federal Direct Loans so that beginning on July 1, 2026, no interest shall accrue on such a loan; and (2) allow a borrower to opt out of this loan modification. Additionally, ED must establish and implement procedures to (1) refinance eligible loans that are not Federal Direct Loans (e.g., privately held Federal Family Education Loans and Perkins Loans), and (2) allow a borrower to opt out of this loan refinancing. The bill outlines the terms and conditions of these refinanced loans, including by prohibiting ED from charging origination fees and specifying that no interest shall accrue on these loans. For new federal student loans made on or after July 1, 2026, the bill sets the applicable interest rate at 0%. The bill establishes the Education Affordability Trust Fund. ED must deposit all payments made on federal student loans into this trust fund. The Education Affordability Trust Fund Board, as established by this bill, must transfer the assets from investments of this trust fund to ED to pay for the administrative costs of carrying out federal student loan programs. The bill allows ED to use excess amounts of funds in the trust fund to carry out a Supplemental Pell Grant Program.
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2026 · third_quarter · Education
Department of Education Interagency Agreements Secure Rural Schools Native American Schools/Forest County Schools E-Rate Child Nutrition Graduated Corporate Tax Act S 4297/HR 8800, FY27 National Defense Authorization Act HR 2003, Affordable Loans for Students Act HR 9260, Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 2027 HR 7259, Military Dependents School Meal Eligibility Act S 4504/HR 8752, Full-Service Community School Expansion Act HR 9607, Less Bureaucracy, Better Workforce Development Act HR 9610, Less Bureaucracy, Better K-12 Education Act HR 9611, Less Bureaucracy, Better Higher Education Act HR 9605, Less Bureaucracy, Better Foreign Medical Accreditation Act HR 9604, Less Bureaucracy, Better Tribal Education Act HR 9606, Less Bureaucracy, Better Child Care for Student Parents Act HR 9603, Less Bureaucracy, Better International Educational Oversight Act HR 9602, Less Bureaucracy, Better Foreign Gift Transparency Act HR 9608, Less Bureaucracy, Better Family Engagement Act HR 9609, Less Bureaucracy, Better Student Aid Act HR 8781 Title IX Clarification Act S 5046, Prohibit transferring specified Department of Education offices and functions to other federal agencies HR 8045/S 4169, Student Loan Interest Elimination Act HR 2003, Affordable Loans for Students Act HR 9289, Keep Public Funds in Public Schools Act HR 4986, Parents Opt-In Protection Act HR 8747, K-12 AI Literacy & Readiness Act HR 9723, Fit Future Act S 2511, College Transparency Act S 4097, State-Based Loan Awareness Act HR 10251, Back-to-School Supplies Affordability Act S 5110 Improving America's Literacy Act S 5480, School Infrastructure Modernization Act HR 10518/S 5431, DIVERSIFY Act HR 10206, Restoring Opportunities for Advanced Education Act HR 10315, AI LABS Act HR 4450/S 2310, NEA Charter Repeal Act HR 4658/S 2428, STUDENT Act S 2516, TEACH Act HR 5753/S 5460, Healthy Meals Help Kids Learn Act HR 10551/S 5566, Public Service Educational Assistance Act
Referred to the Committee on Education and Workforce, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $670,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2026 · third_quarter · Education
Public Law 119-21, To provide for reconciliation pursuant to title II of H. Con. Res. 14, and corresponding regulatory actions, including but not limited to Federal student aid and loan changes (including income-driven repayment plans, PSLF-qualifying loans, and definition of "professional" program); Higher education regulatory changes (including the gainful employment and borrower defense rules); Private school tuition tax voucher; and Proposals to expand Pell Grants to short-term programs. S.1748, Kids Online Safety Act (KOSA), Entirety Child Care, Head Start workforce issues, Head Start and Pre-Kindergarten, generally Artificial Intelligence, Education and workforce related issues S.836, Children and Teens Online Privacy Protection Act (COPPA 2.0), Entirety Immigration enforcement in and around schools H.R.6574, Loan Equity for Advanced Professionals Act H.R.6677, Professional Degree Restoration Act H.R.9289/S.4297, Keep Public Funds in Public Schools Act Literacy and the science of reading, including H.R.7890, Science of Reading Act and S.4689, READ Act Accreditation for institutions of higher education, including through Department of Education rulemaking S.278, Kids Off Social Media Act Student loan relief and repayment provisions generally, including default and debt collection H.R.8800/S.4784, National Defense Authorization Act for Fiscal Year 2027, Amend.26-Private school voucher amendment; Civil Rights; Artificial Intelligence; and Monitor the following: Amend.41-Collective Bargaining; Amendments#18,#19,#20 - LGBTQUIA; and Section 815 and Executive Order #14372 Prioritizing the Warfighter in Defense Contracting. Predatory practices in higher education, generally H.R.8475/S.1220, Savings Opportunity and Affordable Repayment (SOAR) Act H.R.7892/S.4428, No Aid for Ghost Students Act of 2026 H.R.4658/S.3371, Protecting Students from Worthless Degrees Act Full-Service Community Schools Expansion Act Climate Change Education Act Teaching with Technology Act OSERS and OCR Inter Agency Agreement related issues Computer Science Education Act Safe Water for Schools Act AI Education and Workforce Readiness Act K-12 AI Literacy and Readiness Act H.R.4986, Parents Opt-in Protection Act UNPLUGGED Schools Grant Act School Staff Workforce related issues including staff shortages, teacher diversity, teacher preparation and tutoring services, teacher apprenticeship; and Grow Your Own Initiative, pausing of Federal grants on these topics Paraprofessionals and teacher pay Quality Educator Partnership Act H.R.10562, Students Not Profits Act S.3589, Respond, Innovate, Succeed, and Empower H.R.10596, Safe Water for Schools Act H.R.10427, MAGNET Act (RISE Act) S.3010, 21st Century Dyslexia Act H.R.8045, Student Loan Interest Elimination Act Higher education program integrity generally, including the Gainful Employment regulation H.R.9469, Outcomes-Based Financing (OBF) for Students Act H.R.730, Mathematical and Statistical Modeling Education Act S.5456, Stop Social Security Garnishment Act of 2026 H.R.10518/S.5431, Diversify Act S.5634, Supporting Providers of English Language Learning (SPELL) Act H.R.10206, Restoring Opportunity for Advanced Education Act H.R.10436, Reaching English Learners Act H.R.10437, FLUENT Act H.R.10438, SYLLABLE Act of 2026 S.4097, State-Based Education Loan Awareness Act H.R.10551, Public Service Educational Assistance Act H.R.10562, Students Not Profits Act of 2026 A bill to amend the Higher Education Act of 1965 to cap interest rates on new Federal student loans at 2 percent and establish a refinancing process for existing loans, to amend the Internal Revenue Code of 1986 to increase the limitation with respect to the American Opportunity Tax Credit, and for other purposes (draft bill) H.R.10612/S.5559, BASIC Act School voucher tax credit (education freedom tax credit) as established by PL.119-21 Quality Education Partnership Act (draft bill) Career and Technical Education (CTE) programs, Promoting Skilled Trades, Draft legislation Career and Technical Education (CTE), Teacher recruitment and credentialing Perkins funding related issues Pesticide near schools environmental issues K-12 Education, generally Public Law 119-60, National Defense Authorization FY2026, DOD Education Activity schools in Europe South region Department of Education, Existence and organization, generally and as follows: H.R.9602, Less Bureaucracy, Better International Foreign Gift Transparency Act H.R.9603, Less Bureaucracy, Better International Education Oversight Act H.R.9604, Less Bureaucracy, Better Tribal Education Act H.R.9605, Less Bureaucracy, Better Foreign Medical Accreditation Act H.R.9606, Less Bureaucracy, Better Child Care for Student Parents Act H.R.9607, Less Bureaucracy, Better Workforce Development Act H.R.9608, Less Bureaucracy, Better Family Engagement Act H.R.9609, Less Bureaucracy, Better Student Aid Act H.R.9610, Less Bureaucracy, Better K-12 Education Act H.R.9611, Less Bureaucracy, Better Higher Education Act H.R.2333, Protecting Students with Disabilities Act H.R.433, Department of Education Protection Act S.5038, Special Education Administration Protection Act H.R.10232/S.5046, A bill to prohibit the transfer of certain offices and functions of the Department of Education to other Federal agencies, and for other purposes. Monitor the following: H.R.28/S.9, Protecting Women and Girls in Sports Act of 2025 Postsecondary Student Success Grants (College completion) and funding Antisemitism in educational settings, including S.558, Antisemitism Awareness Act of 2025 Trump Administration Compact for Academic Excellence in Higher Education Executive Order 14279-Reforming Accreditation To Strengthen Higher Education, Accreditation related issues H.R.8476, No Antisemitism in Education Act of 2026 S.1558, Understanding the True Cost of College Act H.R.6392/S.3747, Home School Graduation Recognition Act Career and Technical Education related issues Higher Education negotiated rulemaking generally, including on Public Service Loan Forgiveness and implementation of Public Law 119-21, One Big Beautiful Bill Act related provisions Unionization of higher education faculty and staff, generally Social Media and Platform Accountability related issues S.4261, Preventing Youth Homelessness Demonstration Act H.R.8978, Enhancing Mental Health and Suicide Prevention Through Campus Planning Act H.R.8979, Elementary and Secondary School Counseling Act H.R.4120/S.4468, Supporting the Mental Health of Educators and Staff Act H.R.8606, CHARTER Act The DC voucher program/SOAR Act FY2027 funding and policy provisions H.R.7891, Student Aid Fraud Oversight and Accountability Act of 2026 H.R.7893, FAFSA Verification Efficiency Act H.J.Res.189, CRA relating to ED regulations relating to "Reimagining and Improving Student Education-Federal Student Loan Program Final Regulations" (RISE) LIFT AI Act Screen-time Management And Recommendations for Teens (SMART) and Kids Act Higher Education and AI issues Get Toxic Substances Out of Schools Act Green Ribbon Act Phone free schools issues, generally S.2481, Pay Teachers Act, Entirety H.R.7032/S.2451, Pay Para Professional and Support Staff Act, Entirety Reviving Americas Schoolyards Act H.R.9203, Student Protection and University Accountability Act H.R.4795, Protect Economic and Academic Freedom Act of 2025 Accountability in Higher Education and Access through Demand-driven Workforce Pell (AHEAD) related issues H.R.7340, Rebuild Americas Schools Act H.R.8676, REFRESH ACT Paraprofessional workforce data collection Secretary McMahon impeachment resolution H.R.7726, the Stop Child Care Scams Act of 2026 National Science Foundation, Proposal/Award Information Guidance Environmental Protection Agency, Legacy Users and Associated Disposals of Asbestos Nuclear Regulatory Commission, Proposed Rule on Reforming and Modernizing the NRC's Radiation Protection Framework Contact Equity Assistance Center program regulations H.R.8975/S.4579, All Students Count Act of 2026, Asian American, Native Hawaiian, and Pacific Islander (AANHPI) issues
Client expense: $420,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Democratic |
| FL |
| Mike Levin | Democratic | CA |
| Robert C. "Bobby" Scott | Democratic | VA |
| Shomari Figures | Democratic | AL |
| Ted Lieu | Democratic | CA |