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New rules for veteran student loan repayment

This act allows veterans eligible for Post-9/11 educational assistance to use these funds to repay federal student loans. This means that instead of paying for tuition, they can allocate the money to reduce their student debt, which can significantly ease their personal finances.
Key points
Veterans can now use their educational benefits (Post-9/11 GI Bill) to repay federal student loans.
The maximum annual repayment amount is $15,900, subject to annual adjustment.
Payments will be made directly to the lender, and benefits cannot be transferred to others.
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Additional Information
Modern GI Bill Act
Print number: HR 359
Sponsor: Rep. Steube, W. Gregory [R-FL-17]
Process start date: 2021-01-19