Strengthening Loan Forgiveness for Public Servants Act
This bill expands the Public Service Loan Forgiveness program for new federal student loans. It allows public servants (like teachers, nurses, and government workers) who complete 2 to 10 years of qualifying employment to have a percentage of their loan balance canceled: 15% after 2-4 years, 20% after 6-8 years, and 30% after 10 years. Borrowers must submit an employment certification form, and their loans enter automatic deferment during service. The bill also cancels all interest accruing during the forgiveness application review period. It applies only to loans issued after the bill's enactment date.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2024
Committee Review
Floor Vote
President
Introduced Dec 18, 2024
Last action Dec 18, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Dec 18, 2024
Committee
Referred to the House Committee on Education and the Workforce.
lower
Dec 18, 2024
Introduced
Introduced in House
lower
1 primary · 5 co-sponsors
Sponsors
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