This bill helps veterans pay off their federal student loans using their educational benefits, making it easier for them to manage debt.
Modern GI Bill Act This bill authorizes individuals who are entitled to educational assistance under the Post-9/11 GI Bill to apply amounts of such assistance to repay federal student loans for up to 36 months. The bill sets a cap and annual cost-of-living increases for the amount of educational assistance that may be paid to an individual under this bill during FY2026 and the following years.
1. This bill allows veterans to use their educational benefits to pay off federal student loans. 2. Veterans can apply their benefits to cover some or all of their loan balance. 3. The maximum annual amount for repayment starts at $15,900 in 2026. 4. Payments can be made directly to the loan lender on behalf of the veteran. 5. Veterans cannot transfer these benefits to someone else.
Veterans who have federal student loans and are eligible for Post-9/11 educational assistance.