HR 7465 117th Congress House Education Government lending and loan guarantees Higher education Student aid and college costs

PSLF Payment Completion Fairness Act

Introduced: April 7, 2022 Introduced by: Houlahan, Chrissy Democratic · Pennsylvania See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 7, 2022

Referred to the House Committee on Education and Labor.

Apr 7, 2022

Introduced in House

Plain-English summary Congressional Research Service

Public Service Loan Forgiveness Payment Completion Fairness Act or the PSLF Payment Completion Fairness Act

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.

What's happening now April 7, 2022

Referred to the House Committee on Education and Labor.

Committees of jurisdiction 1