PSLF Payment Completion Fairness Act
- Last Action
- 4/10/2024
Actions
- 2024-04-10Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held. With printed Hearing: S.Hrg. 118-552.
- 2023-04-27Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
- 2023-04-27Introduced in Senate
CRS Summary
As of 2023-04-27 (00)
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.
Cosponsors (1)
- Mike Braun (R-IN)
Subjects
- Government lending and loan guarantees
- Higher education
- Student aid and college costs
Sourced from Congress.gov (public domain).
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