Teacher Loan Repayment Act of 2015

Summary

Teacher Loan Repayment Act of 2015 This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify the financial aid programs for teachers. Specifically, it terminates the authority of the Department of Education (ED) to: (1) award new grants under the Teacher Education Assistance for College and Higher Education (TEACH) Grant program and (2) enter new loan forgiveness agreements under the under the Teacher Loan Forgiveness program. The bill authorizes and directs ED to administer a new loan repayment for teachers program. To qualify, a borrower must be a full-time teacher in a low-income school or location and meet other requirements. ED, on behalf of a qualified borrower, makes $250-$400 direct monthly payments on Federal Family Education Loan or Direct Loan program Subsidized, Unsubsidized, and, in certain circumstances, Consolidation Loans. To remain eligible for loan repayment, a borrower must continue to be employed in the school or location of initial eligibility. The total maximum loan repayment amount is $23,400 over six years. A borrower must repay the remaining principal and interest. An individual who currently participates in the Teacher Loan Forgiveness program may continue participating in such program or enter the new loan repayment for teachers program.

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Timeline

1. 29 July 2015

   Introduced

   Referred to the House Committee on Education and the Workforce.

   Source: IntroReferral

2. 29 July 2015

   Introduced

   Introduced in House

   Source: IntroReferral

3. 29 July 2015

   Introduced

   Introduced in House

   Source: IntroReferral

4. 16 November 2015

   Referred

   Referred to the Subcommittee on Higher Education and Workforce Training.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 29 July 2015 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 July 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 29 July 2015

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 29 July 2015

  Open at official source

Sponsors

• Derek Kilmer · D · Sponsor
• Susan Brooks · R · Sponsor
• Rep. Bonamici, Suzanne [D-OR-1] · D · Sponsor
• Rep. Hanna, Richard L. [R-NY-22] · R · Sponsor
• Sen. Welch, Peter [D-VT] · D · Cosponsor
• Scott Peters · D · Cosponsor
• Kathleen Rice · D · Cosponsor
• · hsed00 · Standing

Related records

• related to → Teacher Loan Repayment Act of 2017
• related to → Teacher Loan Repayment Act of 2015