Teacher Loan Repayment Act of 2017

Summary

Teacher Loan Repayment Act of 2017 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 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. 25 May 2017

   Introduced

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

   Source: IntroReferral

2. 25 May 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 25 May 2017 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 May 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 May 2017

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 May 2017

  Open at official source

Sponsors

• Sen. Hatch, Orrin G. [R-UT] · R · Sponsor
• Mark Warner · D · Sponsor
• · sshr00 · Standing

Related records

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