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Relief Sought on Soldiers' Loans
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Source: Omaha World Herald
WASHINGTON — The government would stop collecting interest on direct student loans held by active duty soldiers and National Guard members under legislation introduced Wednesday by Sen. Ben Nelson, D-Neb., and 13 other senators.
The bill would stop interest from accruing on the loans for up to 60 months It would save the average service member between $1,183 and $1,479 over a 12- to 15-month activation period, according to the bill's sponsors.
Congress already passed legislation to stop interest on loans that originated after October 2008, according to Nelson, but that bill did not address loans taken out prior to that.
“The federal government shouldn't be asking for interest payments while service members are deployed and fighting for our country,” Nelson said.
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