Pipeline · Bill → Law
Step 1
Introduced
Apr 27, 2023
Step 2
Referred
Apr 27, 2023
Banking, Housing, and Urban Affairs · HELP
Step 3
Committee
Apr 10, 2024
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill removes the requirement that a borrower must be employed in a public service job at the time of loan forgiveness under the Public Service Loan Forgiveness (PSLF) program. Under the current PSLF program, the Department of Education 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 and, at the time of loan forgiveness, the borrower is employed in a public service job. This bill removes the requirement that the borrower must be working in a public service job at the time of loan forgiveness.
Timeline · 3 actions
Apr 10, 2024
Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.
Apr 27, 2023
Introduced in Senate
Apr 27, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.