Strengthening Loan Forgiveness for Public Servants Act

Summary

Strengthening Loan Forgiveness for Public Servants Act This bill revises the Public Service Loan Forgiveness (PSLF) program to provide for partial loan cancellation based on the length of public service employment. Specifically, the bill directs 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 Federal Direct Loans made after the bill's enactment. Under the current PSLF program, ED must cancel the balance of interest and principal due on a borrower's Federal Direct Loans after the borrower makes 120 monthly loan payments while employed in a public service job.

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Timeline

1. 27 July 2021

   Introduced

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

   Source: IntroReferral

2. 27 July 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 27 July 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 July 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 July 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 27 July 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Blumenthal, Richard [D-CT] · D · Sponsor
• Sen. Smith, Tina [D-MN] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Sen. Cardin, Benjamin L. [D-MD] · D · Cosponsor
• · sshr00 · Standing

Related records

• related to ← Strengthening Loan Forgiveness for Public Servants Act