Walz Cosponsors Veterans Tuition And Support Act Of 2007

Press Release

WALZ COSPONSORS VETERANS TUITION AND SUPPORT ACT OF 2007

Today, Congressman Walz signed on as a cosponsor of the Veterans Tuition and Support Act (VETS) of 2007, which provides assistance and financial protection for servicemembers who are in the process of earning a degree or paying back educational loans.

"This legislation guarantees basic safeguards for military reservists who are called to deploy to Iraq or Afghanistan in the midst of their college careers," said Walz. "Too many of our youngest veterans are facing unique hardships associated with the interruption of their schooling and the repayment of their student loans."

Walz continued, "This bill is an extra measure to both ensure a soldier's financial security while he or she is deployed and to simplify his or her continued educational progress upon return. Minnesota's communities go above and beyond to help soldiers with reintegration; it is time we ask lenders and educational institutions to share that commitment to our returning heroes."

The legislation amends the Service Members Civil Relief Act to require colleges and universities to refund service members' tuition and fees for any unearned credit for the term in which they are activated for duty. It also requires schools to readmit student soldiers after their deactivation. The bill would give military personnel a 13-month grace period after their return home before their student loans come due. Many vets need this grace period to find employment and ease the stress of transitioning back to civilian life. Finally, the legislation would cap student loans for servicemembers at a 6-percent interest rate.

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