To limit eligibility for public service loan forgiveness to borrowers of Federal student loans with incomes below a certain maximum threshold, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 16, 2022)
This bill limits eligibility for the Public Service Loan Forgiveness (PSLF) program to borrowers with adjusted gross incomes below a certain maximum threshold.
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 specifies that, in order to count as a qualifying monthly loan payment under the PSLF program, the borrower must have an adjusted gross income that does not exceed $173,000.
What just happenedJun 16, 2022
Referred to the House Committee on Education and Labor.
Who’s behind it
- Introduced in HouseJun 16, 2022
- Jun 16, 2022IntroReferralH11100
Referred to the House Committee on Education and Labor.
Education and the Workforce Committee - Jun 16, 2022IntroReferralIntro-H
Introduced in House
- Jun 16, 2022IntroReferral1000
Introduced in House