Student Loan Interest Elimination Act (HR8045)
Current understanding
HR8045, the Student Loan Interest Elimination Act, would set the interest rate on all existing and new federal student loans to 0% beginning July 1, 2026, and allow refinancing of non-Direct federal loans to 0% without origination fees. It would establish an Education Affordability Trust Fund, financed by loan payments, to cover program costs and potentially expand Pell Grants. Status: introduced; not enacted.
Evidence log
- 2026-03-24 — Student Loan Interest Elimination Act: cross-connection with pell-grant-preservation-expansion-act-2026: Both proposals would channel resources toward Pell Grant expansion; HR8045 does so via a new Education Affordability Trust Fund financed by student-loan payments. (novelty: 3)