Servicemember Student Loan Affordability Act of 2024

This bill caps the interest rate at 6% on student loans that active-duty servicemembers (or their spouses jointly) consolidate or refinance *during* military service, but only if those loans were originally taken out *before* they joined the military. It directly affects servicemembers who use consolidation or refinancing to manage pre-service student debt while serving. The key provision limits interest rates on these specific consolidated/refinanced loans to 6% for the duration of military service, excluding other types of debt. The bill defines "student loan" to include both federal loans under the Higher Education Act and qualifying private loans.