Selected Reserve Education Loan Repayment Program Enhancement Act

Bill: 116-hr-7424
Sponsor: full_name: Rep. Haaland, Debra A. [D-NM-1]
Introduced: 2020-06-30
Policy area: Armed Forces and National Security
Subjects: Higher education

National Guard and reserves

Student aid and college costs

Veterans' education, employment, rehabilitation
Latest action: action_date: 2020-06-30
text: Referred to the House Committee on Armed Services.

Summaries:
action_date: 2020-06-30
action_desc: Introduced in House
text: <p><b>Selected Reserve Education Loan Repayment Program Enhancement Act</b></p> <p>This bill increases, to the greater of 20% or $1000, the maximum amount of certain education loans that the Department of Defense may repay for members of the Selected Reserve under the education loan repayment program. Under current law, the maximum amount is the greater of 15% or $500.<br /></p>

tv_txt: I 116th CONGRESS 2d Session H. R. 7424 IN THE HOUSE OF REPRESENTATIVES June 30, 2020 Ms. Haaland (for herself, Mrs. Bustos , and Mr. Palazzo ) introduced the following bill; which was referred to the Committee on Armed Services A BILL To amend title 10, United States Code, to increase the amount which may be paid to members of the Selected Reserve under the education loan repayment program, and for other purposes.

1. Short title This Act may be cited as the Selected Reserve Education Loan Repayment Program Enhancement Act . 2. Modification of education loan repayment program for members of Selected Reserve (a) Modification of maximum repayment amount Section 16301(b) of title 10, United States Code, is amended by striking 15 percent or $500 and inserting 20 percent or $1,000 . (b) Effective date and applicability The amendment made by subsection (a) shall take effect on the date of the enactment of this Act and shall apply with respect to loan repayment under section 16301 of title 10, United States Code, for eligible years of service completed on or after the date of the enactment of this Act.