Strengthening Loan Forgiveness for Public Servants Act

Summary

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.

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Timeline

1. 22 June 2017

   Introduced

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

   Source: IntroReferral

2. 22 June 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 22 June 2017 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 June 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 June 2017

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 22 June 2017

  Open at official source

Sponsors

• Richard Blumenthal · D · Sponsor
• Elizabeth Warren · D · Sponsor
• Edward Markey · D · Sponsor
• Sen. Franken, Al [D-MN] · D · Sponsor
• Jeanne Shaheen · D · Sponsor
• Sen. Udall, Tom [D-NM] · D · Sponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Sponsor
• Maggie Hassan · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Cosponsor
• Rep. Cardin, Benjamin L. [D-MD-3] · D · Cosponsor
• · sshr00 · Standing

Related records

• related to → Strengthening Loan Forgiveness for Public Servants Act
• related to ← Strengthening American Communities Act of 2018
• related to ← Strengthening Forgiveness for Public Servants Act