S. 731 · 109th Congress
Tribal Colleges and Universities Teacher Loan Forgiveness Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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ConradSponsor9 cosponsors · 5 D, 4 R
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Bingaman
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Burns
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Domenici
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Dorgan
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Johnson
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Kohl
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Thune
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McCain
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Stabenow7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Tribal Colleges and Universities Faculty Loan Forgiveness Act - Amends the Higher Education Act of 1965 to provide for the cancellation of a specified percentage of the total amount of any Federal Perkins loan, Federal Family Education loan, or direct student loan for each year of employment (up to five) as a full-time faculty member at a tribal college or…
What it does: CRS summary · Reported to Senate with amendment(s) · Dec 12, 2005
Tribal Colleges and Universities Faculty Loan Forgiveness Act - Amends the Higher Education Act of 1965 to provide for the cancellation of a specified percentage of the total amount of any Federal Perkins loan, Federal Family Education loan, or direct student loan for each year of employment (up to five) as a full-time faculty member at a tribal college or university if the borrower is not in default on such loan.
Requires the Secretary to assume or cancel the obligation to repay: (1) 15% of the amount of all such loans made, insured, or guaranteed after enactment of this Act to a student for the first or second year of employment; (2) 20% for the third or fourth year of such employment; and (3) 30% for the fifth year.
Limits the total amount of loan repayment or cancellation per student to $15,000. Allows for repayment or cancellation of consolidation loans only to the extent of the qualified student loans involved.
Prohibits a borrower from receiving, for the same service, both a benefit from this Act and a benefit from the National Community Service Act of 1990.
Amends the Public Health Service Act to provide for repayment by the Secretary of Health and Human Services of educational loans for nurse training costs on behalf of nursing instructors at tribal colleges or universities, or any land-grant institution listed in the Equity in Educational Land-Grant Status Act of 1994.
Provides that the amount of any loan forgiven under this Act shall not be treated as gross income for federal tax purposes.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Tribal Colleges and Universities Faculty Loan Forgiveness Act
Latest action (Dec 12, 2005): Placed on Senate Legislative Calendar under General Orders. Calendar No. 323.
Policy area: Native Americans · Origin: Senate · Introduced: Apr 6, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.