Courtney, Welch re-introduced the Student Loan Interest Elimination Act, a bill to lower the cost of college for current and future student loan borrowers. The Student Loan Interest Elimination Act would allow borrowers to refinance the interest on all current and future federal student loans to zero percent.
Eliminate interest on federal student loans by supporting legislation that refiances current and future federal student loans to a zero percent interest rate.
Occurrences
Mr. Courtney (for himself and Ms. Norton) introduced the following bill... Full Title To amend the Higher Education Act of 1965 to eliminate interest on student loans, establish the Education Affordability Trust Fund, increase annual and aggregate loan limits, and for other purposes.
The Student Loan Interest Elimination Act would allow all current and future student borrowers to refinance their loans to 0%. Unlike other proposals, our bill includes a pay-for to save taxpayer dollars and lowers the cost of college for future students. This is the clear commonsense solution to the Student Loan Crisis. Congress shouldn’t wait to take up and pass our bill.
Evidence
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Rep. Joe Courtney and Sen. Peter Welch reintroduced the Student Loan Interest Elimination Act, described as a bill to lower the cost of college and refinance the interest on current and future federal student loans to zero percent.
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Rep. Joe Courtney and Sen. Peter Welch re-introduced the Student Loan Interest Elimination Act, described as a bill to lower the cost of college and refinance the interest on current and future federal student loans to zero percent. The release says the bill would allow borrowers to refinance the interest on all current and future federal student loans to zero percent.
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GovInfo shows H.R. 8045, the Student Loan Interest Elimination Act, introduced in the 119th Congress and referred to the Committee on Education and Workforce and the Committee on the Budget. The listed action is introduction and referral only.
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On June 18, 2026, the Education Department announced a temporary 1 percentage point interest-rate reduction for federal borrowers who enroll in autopay, with existing autopay users getting a smaller adjustment. The action reduces interest but does not eliminate it or implement a zero-percent federal student loan rate.
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Courtney's office announced that Rep. Joe Courtney and Sen. Peter Welch reintroduced the Student Loan Interest Elimination Act, describing it as legislation that would let borrowers refinance interest on all current and future federal student loans to zero percent.
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Courtney's one-pager says the bill is led in the House by Representative Joe Courtney and would refinance the interest rate of all existing and future federal student loans to 0%. It also describes a Department of Education trust fund intended to offset eliminated interest.
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GovInfo identifies H.R. 8045 in the 119th Congress as the introduced version of the Student Loan Interest Elimination Act. The official bill record shows introduction and referral to committees, with no enacted public law status shown in the record provided.
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The U.S. Code sets Direct Loan interest rates using formulas based on Treasury rates plus statutory add-ons for undergraduate, graduate, PLUS, and consolidation loans, and says the resulting rate is fixed for the loan period. It does not establish a universal zero percent rate for current and future federal student loans.
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CRS describes the federal student loan portfolio as more than $1.6 trillion and notes that repayment plans include payments of principal and interest; it also states that unpaid principal and interest may remain under income-driven repayment. The report frames interest as part of the current loan system.
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AP reported that the Education Department announced a temporary 1 percentage point reduction for eligible federal Direct Loan borrowers enrolled in automatic payments. The article notes the reduction is temporary, limited to eligible borrowers, and not an elimination of interest for all federal student loans.
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GovInfo lists H.R. 8045, the Student Loan Interest Elimination Act, in the 119th Congress with Joe Courtney as sponsor. The current action shown is introduction and referral to the House Committee on Education and Workforce and the Committee on the Budget, with a last action date of March 24, 2026 and bill version 'Introduced in House.'
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Federal Student Aid states that Direct Loan interest rates for loans first disbursed from July 1, 2026 through June 30, 2027 are 6.52% for undergraduate Direct Subsidized and Unsubsidized Loans, 8.07% for graduate/professional Direct Unsubsidized Loans, and 9.07% for Direct PLUS Loans.
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07/01/2026 | 07/01/2027 | 6.52 | 8.07 | 9.07 | N/A
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Bill Version Introduced in House (IH)
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the applicable rate of interest shall be 0 percent on the unpaid principal balance of the loan
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extended the enrollment period for the 1 percent interest rate reduction benefit by an additional three months.
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beginning on July 1, 2026, no interest shall accrue on such loan;
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Bill Version Introduced in Senate (IS)
Assessments
Courtney materially pursued the promised policy by sponsoring/reintroducing the Student Loan Interest Elimination Act, which matches the promise to refinance current and future federal student loans at 0% interest. But the record provided shows the bill only introduced and referred to committees, with no enactment or implementation, and current federal student loans still carry positive statutory/administrative interest rates. Because the promised zero-percent refinancing outcome has not been delivered despite a serious legislative attempt, this is a failed delivery with effort credit.
Courtney materially supported the promised policy by leading and reintroducing the Student Loan Interest Elimination Act, which matches the pledge to refinance current and future federal student loans to a 0% interest rate. However, the evidence shows only bill introduction and committee referral, with no passage, enactment, or implementation. Current federal student loan law still uses positive interest-rate formulas, and recent federal actions only temporarily reduced some interest rates rather than eliminating interest. Because this was a serious legislative attempt that did not deliver the promised outcome, the proper outcome is never with effort credit.
Courtney took a serious concrete step toward the promise by reintroducing the Student Loan Interest Elimination Act in the 119th Congress, which would refinance current and future federal student loans to a 0% interest rate. But the official record in the provided evidence shows only introduction and committee referral, with no House passage, Senate passage, enactment, or implementation of a zero-interest federal student loan policy. Because the promised outcome was not delivered, but Courtney did materially pursue it through legislation, this is best scored as never with effort credit.
Courtney materially supported the promised policy by reintroducing the Student Loan Interest Elimination Act in the 119th Congress, which would refinance current and future federal student loans to a zero percent interest rate. But the evidence shows only introduction and referral to committee, with no House passage, Senate passage, enactment, or implementation. That is a serious legislative effort, but not delivery of the promised outcome.
Joe Courtney did materially advance the policy by reintroducing the Student Loan Interest Elimination Act in the 119th Congress, which would refinance current and future federal student loans to 0% interest. But the evidence shows only introduction and referral, with no committee passage, floor passage, enactment, or implementation, so the promised outcome was not delivered.
The promise was to eliminate interest on federal student loans by supporting legislation that refinances current and future federal student loans to a zero percent rate. The evidence shows Rep. Joe Courtney took concrete action by reintroducing the Student Loan Interest Elimination Act in the current Congress, and official records confirm the bill was introduced and referred to committee. However, there is no evidence here that the bill advanced beyond referral, passed Congress, was enacted, or produced the promised policy outcome. Because he has materially pursued the promise but the current term remains active and the outcome is still pending, the best classification is unresolved rather than delivered or never.
Courtney materially advanced the promised policy by reintroducing the Student Loan Interest Elimination Act in the 119th Congress, which would refinance current and future federal student loans to a zero percent interest rate. However, the available record shows introduction/reintroduction only, not passage, enactment, or implemented zero-percent federal student loan refinancing. Because the promised substantive outcome has not been delivered, but Courtney made a serious legislative attempt in federal office, this is a failed delivery with effort credit.