Student Loan Interest Elimination Act eliminates interest on student loans, establishes the Education Affordability Trust Fund, and increases loan.

The Student Loan Interest Elimination Act modifies existing federal student loans to eliminate interest accrual starting July 1, 2026. It establishes the Education Affordability Trust Fund within the Department of Education to manage repayments and fund additional Pell Grants. The act increases annual and aggregate loan limits for students. It also creates a Board to oversee the Trust Fund, ensuring prudent investment and financial management. The Board is tasked with appointing fund managers, setting investment guidelines, and submitting annual reports to Congress.

Student Loan Interest Elimination Act eliminates interest on student loans, establishes the Education Affordability Trust Fund, and increases loan.

The Student Loan Interest Elimination Act modifies existing federal student loans to eliminate interest accrual starting July 1, 2026. It establishes the Education Affordability Trust Fund within the Department of Education to manage repayments and fund additional Pell Grants. The act increases annual and aggregate loan limits for students. It also creates a Board to oversee the Trust Fund, ensuring prudent investment and financial management. The Board is tasked with appointing fund managers, setting investment guidelines, and submitting annual reports to Congress.