S. 1412 · 115th Congress
Strengthening Loan Forgiveness for Public Servants Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BlumenthalSponsor10 cosponsors · 10 D
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Feinstein
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Franken
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Hirono
MH
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Hassan
EM
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Markey
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Shaheen
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Udall
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Warren
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Leahy
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Cardin8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct 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 a William D. Ford Federal Direct Loan made after this bill's enactment.
What it does: CRS summary · Introduced in Senate · Jun 22, 2017
Strengthening Loan Forgiveness for Public Servants Act
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct 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 a William D. Ford Federal Direct Loan made after this bill's enactment. (Currently, the balance of a borrower's Direct Loan is canceled if the borrower is not in default and has made 120 monthly payments on such loan while employed as a public service employee.)
The bill: (1) requires borrowers availing themselves of such loan cancellation to submit an employment certification form that includes self-certification of employment and employer certification of employment dates, and (2) places the borrower's loan in deferment during the period in which the borrower is employed in an eligible public service job if the borrower submits such form to ED.
If a portion of a loan is canceled for any year, the interest on such loan for such year must be canceled.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Strengthening Loan Forgiveness for Public Servants Act
Latest action (Jun 22, 2017): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Education · Origin: Senate · Introduced: Jun 22, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.