This bill extends interest rate protections to active-duty service members who consolidate or refinance student loans they took out before enlisting. Currently, federal law caps interest rates at 6 percent on most debt service members incur while on active duty, but this protection does not apply to consolidation or refinance loans. The legislation closes that gap by ensuring that when service members refinance pre-service student loans (both federal and private) during their military service, those new loans also cannot exceed a 6 percent interest rate. The bill applies to service members and their spouses who jointly take out consolidation or refinance loans and specifically limits the protection to student loans only, not other types of debt. The measure was introduced in November 2025 and referred to the House Committee on Veterans' Affairs.
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