Washington, D.C. – Today, Congresswoman Elise Stefanik introduced the Military Spouse Student Loan Deferment Act, bipartisan legislation to allow a military spouse of an active duty servicemember to defer their student loans for 90 days while they are transitioning through a permanent change of station (PCS) move. Servicemembers must conduct a PCS move every two to three years in order to meet the needs of their respective branch. Additionally, no accrued interest will be incurred during the loan’s deferment period. Congressman Donald Norcross (D-NJ-1) is co-leading the legislation.
“Military spouses sacrifice education, job, and family stability in order for their servicemember spouse to courageously serve our country,” said Congresswoman Stefanik. “These spouses deserve for their sacrifice to be recognized and honored. This bipartisan legislation will give military families an added layer of financial protection and peace of mind during transition periods. I am so grateful to our military spouses in the North Country and all over the world, and I will always be their advocate through my work in Congress.”
“I appreciate the sacrifices of military spouses who selflessly support our servicemembers every day,” said Congressman Norcross. “They and their families face unique challenges, such as frequent moves – which a recent survey found can cost military families an average of over $4,800 in out-of-pocket expenses – leading some to financial insecurity. This bipartisan bill recognizes that hardship and eases the burden during these often stressful transitions. I’m honored to serve and support South Jersey military spouses, as well as those stationed around the world.”