Skip to main content
S 2478 117th Congress Senate Education

Strengthening Loan Forgiveness for Public Servants Act

Introduced: July 27, 2021 Introduced by: Blumenthal, Richard Democratic · Connecticut See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2021
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Jul 27, 2021
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now July 27, 2021

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

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3