ALBANY (AP) -- A U.S. Senate bill would suspend the interest on student loans taken out by active duty service members when in combat zones.
Sen. Charles Schumer says the measure would save those in combat areas and their families about $1,500 during the course of a year's deployment. The bill would apply to federal direct student loans.
The New York Democrat says more than 15 percent of those in the armed forces deployed overseas have college or graduate degrees and likely have college loan indebtedness.
The bill would make sure the service members and their families don't have to deal with a growing debt during the deployments.
Schumer's bill would suspend interest on loans taken out before 2008. Loans since then already suspend interest during combat service.
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