The NSRA converts existing federal student loans to zero interest and makes all future federal loans interest-free, ending the structural wealth transfer from borrowers to the federal government.
The NSRA does not erase balances by fiat. Instead it eliminates interest, the mechanism that turns a manageable principal into a lifelong debt. Borrowers repay what they borrowed, nothing more. Public-service borrowers retain an income-based forgiveness path.
Interest elimination sidesteps the political fight over forgiveness while delivering immediate, durable relief. It makes higher education a real option again without adding the moral-hazard objections that stall forgiveness proposals.
Student-debt relief is funded within the NSRA's closed-loop fiscal architecture, alongside the Household Structural Relief provisions, without new broad-based taxes.
Does the NSRA cancel student loan debt?
The NSRA converts federal student loans to zero interest rather than canceling principal. Borrowers repay what they originally borrowed, with no interest.
What about future student loans?
All future federal student loans are issued at zero interest under the NSRA.