Bill > HR2349

This bill, known as the Get Relief from Academic Debt Act of 2013 or the GRAD Act of 2013, amends the Higher Education Act of 1965 to allow borrowers of Direct Stafford Loans, which are federal student loans, to choose to delay the start of their loan repayment for an additional six months, for a total of one year, after they stop attending school at least half-time. This extended grace period, or the time before repayment begins, applies to loans first disbursed on or after July 1, 2013. Additionally, the bill ensures that the government will cover the interest that accrues on these loans during the first six months of this extended grace period, meaning borrowers won't have to pay interest during that initial period of their extended repayment delay.