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Second Chance at Public Service Loan Forgiveness Act
3/13/2024, 3:38 AM
Congressional Summary of S 4581
Second Chance at Public Service Loan Forgiveness Act
This bill makes changes to the Public Service Loan Forgiveness (PSLF) program. Among other changes, the bill (1) allows a borrower who obtained an eligible Federal Direct Loan and has been employed full-time in public service (beginning on or after January 1, 1994) for 10 years or more to receive loan forgiveness under the PSLF program; (2) provides additional relevant definitions, including to specify that full-time employment is at least 30 hours a week; and (3) allows an eligible teacher to use the same teaching service to qualify for both the Teacher Loan Forgiveness program and the PSLF program.
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Current Status of Bill S 4581
Bill S 4581 is currently in the status of Bill Introduced since July 21, 2022. Bill S 4581 was introduced during Congress 117 and was introduced to the Senate on July 21, 2022. Bill S 4581's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of July 21, 2022
Bipartisan Support of Bill S 4581
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 4581
Primary Policy Focus
EducationAlternate Title(s) of Bill S 4581
Second Chance at Public Service Loan Forgiveness Act
Second Chance at Public Service Loan Forgiveness Act
A bill to improve the public service loan forgiveness program under section 455(m) of the Higher Education Act of 1965, to improve loan forgiveness eligibility provisions under such Act for teachers, and for other purposes.
Comments
Sponsors and Cosponsors of S 4581
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