Round voting button logo

H.R.8045

Student Loan Interest Elimination Act

Introduced·3/24/26

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.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.

Where it stands

Current
Education and Workforce Committee
Next
Committee decision

Sponsors

DDDDDDDDD
9
0
Democratic CaucusRepublican Caucus

History

Mar 24

House

Introduced in House

Mar 24

House

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.