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Strengthening Loan Forgiveness for Public Servants Act

USA117th CongressHR-4724| House 
| Updated: 7/27/2021
Eric Swalwell

Eric Swalwell

Democratic Representative

California

Cosponsors (9)
John Garamendi (Democratic)Bobby L. Rush (Democratic)Suzan K. DelBene (Democratic)Brendan F. Boyle (Democratic)Jahana Hayes (Democratic)Eleanor Holmes Norton (Democratic)Diana DeGette (Democratic)Seth Moulton (Democratic)Chellie Pingree (Democratic)

Education and Workforce Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Strengthening Loan Forgiveness for Public Servants Act This bill revises the Public Service Loan Forgiveness (PSLF) program to provide for partial loan cancellation based on the length of public service employment. Specifically, the bill directs the Department of Education (ED) to cancel 15%, 15%, 20%, 20%, and 30% of the amount a borrower owes after 2, 4, 6, 8, and 10 years of public service employment, respectively, on Federal Direct Loans made after the bill's enactment. Under the current PSLF program, ED must cancel the balance of interest and principal due on a borrower's Federal Direct Loans after the borrower makes 120 monthly loan payments while employed in a public service job.
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Timeline

Bill from Previous Congress

HR 116-3096
Strengthening Loan Forgiveness for Public Servants Act
Jul 27, 2021

Latest Companion Bill Action

S 117-2478
Introduced in Senate
Jul 27, 2021
Introduced in House
Jul 27, 2021
Referred to the House Committee on Education and Labor.
  • Bill from Previous Congress

    HR 116-3096
    Strengthening Loan Forgiveness for Public Servants Act


  • July 27, 2021

    Latest Companion Bill Action

    S 117-2478
    Introduced in Senate


  • July 27, 2021
    Introduced in House


  • July 27, 2021
    Referred to the House Committee on Education and Labor.

Education

Related Bills

  • S 117-2478: Strengthening Loan Forgiveness for Public Servants Act

Strengthening Loan Forgiveness for Public Servants Act

USA117th CongressHR-4724| House 
| Updated: 7/27/2021
Strengthening Loan Forgiveness for Public Servants Act This bill revises the Public Service Loan Forgiveness (PSLF) program to provide for partial loan cancellation based on the length of public service employment. Specifically, the bill directs the Department of Education (ED) to cancel 15%, 15%, 20%, 20%, and 30% of the amount a borrower owes after 2, 4, 6, 8, and 10 years of public service employment, respectively, on Federal Direct Loans made after the bill's enactment. Under the current PSLF program, ED must cancel the balance of interest and principal due on a borrower's Federal Direct Loans after the borrower makes 120 monthly loan payments while employed in a public service job.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-3096
Strengthening Loan Forgiveness for Public Servants Act
Jul 27, 2021

Latest Companion Bill Action

S 117-2478
Introduced in Senate
Jul 27, 2021
Introduced in House
Jul 27, 2021
Referred to the House Committee on Education and Labor.
  • Bill from Previous Congress

    HR 116-3096
    Strengthening Loan Forgiveness for Public Servants Act


  • July 27, 2021

    Latest Companion Bill Action

    S 117-2478
    Introduced in Senate


  • July 27, 2021
    Introduced in House


  • July 27, 2021
    Referred to the House Committee on Education and Labor.
Eric Swalwell

Eric Swalwell

Democratic Representative

California

Cosponsors (9)
John Garamendi (Democratic)Bobby L. Rush (Democratic)Suzan K. DelBene (Democratic)Brendan F. Boyle (Democratic)Jahana Hayes (Democratic)Eleanor Holmes Norton (Democratic)Diana DeGette (Democratic)Seth Moulton (Democratic)Chellie Pingree (Democratic)

Education and Workforce Committee

Education

Related Bills

  • S 117-2478: Strengthening Loan Forgiveness for Public Servants Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted