How HR 2976 changes current law

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill allows for the deferment of federal student loans during a borrower's cancer treatment period, ensuring that no interest accrues during this time.

• 20 U.S.C. 1087e(f)

  (3) Deferment for borrowers receiving cancer treatment.-- (A) Effect on principal and interest.--A borrower of a loan made under this part who meets the requirements of subparagraph (B) shall be eligible for a deferment, during which periodic installments of principal need not be paid, and interest shall not accrue. (B) Eligibility.--A borrower of a loan made under this part shall be eligible for a deferment during-- (i) any period in which such borrower is receiving treatment for cancer; and (ii) the 6 months after such period. (C) Applicability.--This paragraph shall apply with respect to loans-- (i) made on or after the date of the enactment of this paragraph; or (ii) in repayment on the date of the enactment of this paragraph.

  This addition allows borrowers undergoing cancer treatment to defer payment on their loans without accruing interest during treatment and for an additional six months.

• 20 U.S.C. 1077(a)(2)(C)

  ; or → ;

  This amendment modifies the existing clause formatting in the law to allow for additional clauses to be added.

• 20 U.S.C. 1077(a)(2)(C)

  (iv) in which the borrower is receiving treatment for cancer and the 6 months after such period.

  This clause specifies that loans can be deferred during cancer treatment and for six months following that treatment.

• 20 U.S.C. 1078(b)(1)(M)

  or (II); or → or (II);

  This amendment modifies the existing clause formatting to allow for additional clauses regarding deferment for cancer treatment.

• 20 U.S.C. 1078(b)(1)(M)

  (v) during which the borrower is receiving treatment for cancer and the 6 months after such period;

  The addition provides a deferment option for borrowers receiving cancer treatment.

• 20 U.S.C. 1087dd(c)(2)

  ; or → ;

  This amendment modifies the existing clause formatting in the law for consistency with additional clauses.

• 20 U.S.C. 1087dd(c)(2)

  (vi) during which the borrower is receiving treatment for cancer and the 6 months after such period;

  This clause allows deferment for borrowers in the Federal Perkins Loan program who are receiving cancer treatment.

• 20 U.S.C. 1078-8(e)(2)

  Interest → Except as provided in subparagraph (C), interest

  This amendment clarifies that the interest provisions are subject to exceptions regarding deferment.

• 20 U.S.C. 1078-8(e)(2)

  (C) Interest shall not accrue on a loan deferred under section 428(b)(1)(M)(v) or 427(a)(2)(C)(iv).

  This ensures that interest does not accrue on loans during deferment periods due to cancer treatment.