This act will make public service employees eligible for increased loan forgiveness under the Public Service Loan Forgiveness Program (PSLFP). This act will reduce the required amount of time employees must work in the public sector to benefit from the PSLFP from ten years to four years. Loan balance and interest would be lowered by 10% after four years, 20% after six years, and 50% after eight years. Individuals will still be eligible for complete loan forgiveness after ten years.
01/11/2021 Referred to the House Committee on Education and Labor (Updated: 3/9/21)