,,ii  #aafth ,,congress  #b;d ,session  
,s4 #djjb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #ah1     
#bjbj,mr4 ,durbin 7for himself and ,ms4 
,duckworth7 introduced the following    
bill2 which was read twice and referred 
to the ,committee on ,veterans' ,affairs
  ,a ,,bill  ,to amend the              
,servicemembers ,civil ,relief ,act to  
extend the interest rate limitation on  
debt entered into during military       
service to debt incurred during military
 service to consolidate or refinance    
student loans incurred before military  
service4  #a4 ,short title ,this ,act   
may be cited as the ,servicemember      
,student ,loan ,affordability ,act of   
#bjbj4  #b4 ,interest rate limitation on
 debt entered into during military      
service to consolidate or refinance     
student loans incurred before military  
service  7a7 ,in general ,subsection 7a7
 of section #bjg of the ,servicemembers 
,civil ,relief ,act 7#ej ,u4,s4,c4      
#cicg7 is amended-- 7#a7 in paragraph   

7#a71 by inserting on debt incurred     
before service after ,limitation to #f  
percent2  7#b7 by redesignating         
paragraphs 7#b7 and 7#c7 as paragraphs  
7#c7 and 7#d71 respectively2  7#c7 by   
inserting after paragraph 7#a7 the      
following new paragraph 7#b73  7#b7     
,limitation to #f percent on debt       
incurred during service to consolidate  
or refinance student loans incurred     
before service ,an obligation or        
liability bearing interest at a rate in 
excess of #f percent per year that is   
incurred by a servicemember1 or the     
servicemember and the servicemember's   
spouse jointly1 during military service 
to consolidate or refinance one or more 
student loans incurred by the           
servicemember before such military      
service shall not bear an interest at a 
rate in excess of #f percent during the 
period of military service4  2  7#d7 in 
paragraph 7#c71 as redesignated by      
paragraph 7#b7 of this subsection1 by   
inserting or 7#b7 after paragraph 7#a72 

and  7#e7 in paragraph 7#d71 as so      
redesignated1 by striking paragraph 7#b7
 and inserting paragraph 7#c74  7b7     
,implementation of limitation           
,subsection 7b7 of such section is      
amended-- 7#a7 in paragraph 7#a77;,a71  
by striking the interest rate limitation
 in subsection 7a7 and inserting an     
interest rate limitation in paragraph   
7#a7 or 7#b7 of subsection 7a72 and     
7#b7 in paragraph 7#b7-- 7,a7 in the    
paragraph heading1 by striking effective
 as of date of order to active duty and 
inserting effective date2 and  7,b7 by  
inserting before the period at the end  
the following3 in the case of an        
obligation or liability covered by      
subsection 7a77#a71 or as of the date   
the servicemember 7or servicemember and 
spouse jointly7 incurs the obligation or
 liability concerned under subsection   
7a77#b74  7c7 ,student loan defined     
,subsection 7d7 of such section is      
amended by adding at the end the        
following new paragraph3  7#c7 ,student 

loan ,the term student loan means the   
following3 7,a7 ,a ,federal student loan
 made1 insured1 or guaranteed under     
title ,,iv of the ,higher ,education    
,act of #aife 7#bj ,u4,s4,c4 #ajgj et   
seq474  7,b7 ,a private student loan as 
that term is defined in section #adj7;a7
 of the ,truth in ,lending ,act 7#ae    
,u4,s4,c4 #afej7;a774  4