"The Servicemember Student Loan Affordability Act, S 1399 in the Senate and HR 2859 in the House, would allow troops to consolidate or refinance pre-service student loans without having to give up the 6 percent interest rate cap imposed under federal law for debts incurred before entering the military. Under current law, the 6 percent rate cap no longer applies after these actions are taken because the original loan is repaid."
Posted on: Wed, 31 Jul 2013 17:35:02 +0000