Biden Freezes Student Loan Interest For 47,000 Military Service Members

Biden Freezes Student Loan Interest For 47,000 Military Service Members

President Joe Biden is freezing student loan curiosity for 47,000 service members.

Here’s what you have to know.

Student Loans

In one other victory this week for student loan debtors, the U.S. Department of Education retroactively waived curiosity on federal student loans held by greater than 47,000 present and former active-duty service members. This student loan reduction improves entry to a student loan curiosity waiver profit for service members by way of a data-matching settlement with the U.S. Department of Defense.

“Brave men and women in uniform serving our country can now focus on doing their jobs and coming home safely, not filling out more paperwork to access their hard-earned benefits,” Federal Student Aid Chief Operating Officer Richard Cordray stated. “Federal Student Aid is grateful for our strong partnership with the Department of Defense, and we will seek to reduce red tape for service members wherever possible.”


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