This bill amends the Servicemembers Civil Relief Act (SCRA) to expand the existing 6 percent interest rate limitation. Currently, this cap applies to debts incurred before military service; this bill extends it to certain debts incurred during military service. Specifically, it targets obligations taken out to consolidate or refinance student loans that a servicemember incurred before entering military service, aiming to provide financial relief for those managing educational debt. The amendment clarifies that this new 6 percent interest rate cap applies exclusively to the consolidation or refinancing of student loans, not to other types of obligations. It also specifies that the effective date for this limitation is when the servicemember incurs the new consolidation or refinancing debt. Furthermore, the bill provides a clear definition of "student loan," encompassing both federal student loans under Title IV of the Higher Education Act of 1965 and private education loans as defined in the Truth in Lending Act.