Second Chance at Public Service Loan Forgiveness Act

Senate Bill 4581 - Second Chance at Public Service Loan Forgiveness Act: Overview, Status, and Impact

Hozzl · 2024-03-13T03:38:41Z

Explore the details of Senate Bill 4581 Second Chance at Public Service Loan Forgiveness Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Education. Stay informed on legislative developments.

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4581

Primary Policy Focus

Education

Alternate Title(s) of Bill S 4581

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.