I 
118TH CONGRESS 
2D SESSION 
H. R. 9284 
To amend the Servicemembers Civil Relief Act to limit the interest rate 
on student loans incurred by a servicemember before military service 
and consolidated or refinanced during military service, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
AUGUST 2, 2024 
Mrs. RAMIREZ (for herself, Ms. BONAMICI, Mr. LEVIN, Ms. VELA´ZQUEZ, Ms. 
SALINAS, Ms. ADAMS, Mr. DAVIS of Illinois, Ms. LEE of California, and 
Ms. NORTON) introduced the following bill; which was referred to the 
Committee on Veterans’ Affairs 
A BILL 
To amend the Servicemembers Civil Relief Act to limit the 
interest rate on student loans incurred by a servicemem-
ber before military service and consolidated or refinanced 
during military service, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Servicemember Stu-
dent Loan Affordability Act of 2024’’. 
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SEC. 2. LIMITATION ON INTEREST RATE OF STUDENT 
LOANS INCURRED BEFORE MILITARY SERV-
ICE AND CONSOLIDATED OR REFINANCED 
DURING MILITARY SERVICE. 
(a) ESTABLISHMENT.—Subsection (a) of section 207 
of the Servicemembers Civil Relief Act (50 U.S.C. 3937) 
is amended— 
(1) in paragraph (1), by inserting ‘‘ON DEBT 
INCURRED BEFORE SERVICE’’ after ‘‘LIMITATION TO 
6 PERCENT’’; 
(2) in paragraph (2), by inserting ‘‘or (2)’’ 
after ‘‘paragraph (1)’’; 
(3) in paragraph (3), by striking ‘‘paragraph 
(2)’’ and inserting ‘‘paragraph (3)’’; 
(4) by redesignating paragraphs (2) and (3), as 
amended, as paragraphs (3) and (4), respectively; 
and 
(5) by inserting, after paragraph (1), the fol-
lowing new paragraph (2): 
‘‘(2) LIMITATION TO 6 PERCENT ON STUDENT 
LOANS INCURRED BEFORE MILITARY SERVICE AND 
CONSOLIDATED OR REFINANCED DURING MILITARY 
SERVICE.— 
‘‘(A) IN
GENERAL.—An obligation or li-
ability bearing interest at a rate in excess of 6 
percent per year that is incurred by a service-
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member, 
or 
the 
servicemember 
and 
the 
servicemember’s spouse jointly, during military 
service to consolidate or refinance a student 
loan incurred by the servicemember before such 
military service, shall not bear an interest at a 
rate in excess of 6 percent during the period of 
military service. 
‘‘(B) 
EXCLUSION.—Subparagraph 
(A) 
shall apply only to the consolidation or refi-
nancing of student loans described in such sub-
paragraph and shall not apply to the consolida-
tion or refinancing of any other obligation or li-
ability.’’. 
(b) EFFECTIVE DATE OF LIMITATION.—Subsection 
(b) of such section is amended— 
(1) in paragraph (1)(A), by striking ‘‘the inter-
est rate limitation’’ and inserting ‘‘an interest rate 
limitation’’; and 
(2) in paragraph (2)— 
(A) by striking the heading and inserting 
‘‘EFFECTIVE DATE OF LIMITATION’’; and 
(B) by inserting before the period at the 
end the following: ‘‘in the case of an obligation 
or liability described in paragraph (1) of such 
subsection, or as of the date on which the serv-
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icemember incurs (or the servicemember and 
spouse jointly incur) the obligation or liability 
described in paragraph (2) of such subsection’’. 
(c) STUDENT LOAN DEFINED.—Subsection (d) of 
such section is amended by adding at the end the following 
new paragraph: 
‘‘(3) STUDENT LOAN.—The term ‘student loan’ 
means any of the following: 
‘‘(A) A Federal student loan made, in-
sured, or guaranteed under title IV of the 
Higher Education Act of 1965 (20 U.S.C. 1070 
et seq.). 
‘‘(B) A private education loan, as such 
term is defined in section 140(a) of the Truth 
in Lending Act (15 U.S.C. 1650(a)).’’. 
Æ 
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