# 119-hr-8045: Student Loan Interest Elimination Act

119-hr-8045, Student Loan Interest Elimination Act, is a 119th Congress bill sponsored by Rep. Courtney, Joe [D-CT-2] (D-CT); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-8045
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-8045
- Congress: 119
- Title: Student Loan Interest Elimination Act
- Status: introduced
- Introduced: 2026-03-24
- Sponsor: Rep. Courtney, Joe [D-CT-2] (D-CT)
- Cosponsors: 8
- Policy area: Education
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**Creates an Education Affordability Trust Fund that channels federal student loan repayments into an investment pool to fund lower-cost loans, Pell supplements, and college affordability grants.** It also rewrites loan rules to expand refinancing and cut accruing interest for many federal borrowers while setting inflation-linked loan limits starting in 2027. - Students and borrowers: Expands refinancing and loan modification options and eliminates accruing interest on specified federal loans for new loans starting July 1, 2026. Inflation-adjusted annual and aggregate loan limits begin in 2027. - Low-cost colleges and Pell recipients: Excess Trust Fund earnings can pay for a Supplemental Federal Pell Grant Program and competitive Postsecondary Student Success Program grants to qualifying institutions. Grants range from $600,000 to $1,000,000 and an institution with an endowment above $100 million is generally ineligible. - Governance and financial rules: A six-member presidentially appointed board with strict ethics will manage investments under conservative bond, credit, and diversification rules. Transfers to the Education Department are tiered by assets with no transfers under $300 million and up to 100% transfer once assets hit $500 million. *Trust Fund earnings must be calculated on an accrual basis for federal budget laws.*

## Cosponsors (8)

- Del. Norton, Eleanor Holmes [D-DC-At Large] (D-DC), 2026-03-24T00:00:00.000Z
- Rep. Evans, Dwight [D-PA-3] (D-PA), 2026-04-22T00:00:00.000Z
- Rep. Lieu, Ted [D-CA-36] (D-CA), 2026-04-22T00:00:00.000Z
- Rep. Levin, Mike [D-CA-49] (D-CA), 2026-04-27T00:00:00.000Z
- Rep. Pingree, Chellie [D-ME-1] (D-ME), 2026-06-18T00:00:00.000Z
- Rep. Scott, Robert C. "Bobby" [D-VA-3] (D-VA), 2026-07-09T00:00:00.000Z
- Rep. Wilson, Frederica S. [D-FL-24] (D-FL), 2026-07-14T00:00:00.000Z
- Rep. Figures, Shomari [D-AL-2] (D-AL), 2026-07-20T00:00:00.000Z

## Provisions PRIA read

- Education Trust Fund and grants: benefit, high. If enacted, the bill would create an Education Affordability Trust Fund to receive all Title IV loan repayments without further appropriation. A six‑member Board would manage investments, with initial appointments due within 90 days. The fund would follow strict credit and diversification rules and…
- Loan limits rise with inflation: benefit, low. If enacted, federal annual and aggregate student loan limits would be indexed to inflation for instruction periods beginning on or after July 1, 2027. The Education Secretary would increase statutory loan amounts each year by the estimated percentage change in the Consumer Price Index. This would r…
- Lower student loan interest and refinance: mixed, high. If enacted, you would stop accruing interest on eligible Federal Direct Loans starting July 1, 2026 unless you opt out. Loans first disbursed or applied for on or after July 1, 2026 for certain types would have a 0% interest rate. The Education Department would be able to refinance eligible non‑fed…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-7481: Department of Homeland Security Appropriations Act, 2026
- 119-hr-51: Washington, D.C. Admission Act
- 119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025

## Sources
- [119-hr-8045 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/8045)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-7481: Department of Homeland Security Appropriations Act, 2026](https://policyrisk.com/legislation/119-hr-7481)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-hr-20)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-8045 (as of 2026-09-21).