To amend the Higher Education Act of 1965 to extend loan forgiveness for certain loans to Head Start teachers.

Summary: Loan Forgiveness for Head Start Teachers Act of 2007 - Amends the Higher Education Act of 1965 to require the Secretary of Education to assume or cancel loans made under the Federal Family Education Loan or the Direct Loan programs to individuals who have been employed as Head Start teachers for five consecutive complete program years, if they have demonstrated knowledge and teaching skills in reading, writing, early childhood development, and other areas of a preschool curriculum, with a focus on cognitive learning.

Limits the benefits of this Act to individuals who earn a baccalaureate or graduate degree on or after the date of this Act's enactment.

SECTION 1. LOAN FORGIVENESS FOR HEAD START TEACHERS.

    (a) Short Title.--This section may be cited as the ``Loan 
Forgiveness for Head Start Teachers Act of 2007''.
    (b) Head Start Teachers.--Section 428J of the Higher Education Act 
of 1965 (20 U.S.C 1078-10) is amended--
            (1) in subsection (b), by striking paragraph (1) and 
        inserting the following:
            ``(1)(A) has been employed--
                    ``(i) as a full-time teacher for 5 consecutive 
                complete school years in a school that qualifies under 
                section 465(a)(2)(A) for loan cancellation for Perkins 
                loan recipients who teach in such a school; or
                    ``(ii) as a Head Start teacher for 5 consecutive 
                complete program years under the Head Start Act; and
            ``(B)(i) if employed as an elementary school or secondary 
        school teacher, is highly qualified as defined in section 9101 
        of the Elementary and Secondary Education Act of 1965, or meets 
        the requirements of subsection (g)(3); and
            ``(ii) if employed as a Head Start teacher, has 
        demonstrated knowledge and teaching skills in reading, writing, 
        early childhood development, and other areas of a preschool 
        curriculum, with a focus on cognitive learning; and'';
            (2) in subsection (g), by adding at the end the following:
            ``(4) Head start.--An individual shall be eligible for loan 
        forgiveness under this section for service described in clause 
        (ii) of subsection (b)(1)(A) only if such individual received a 
        baccalaureate or graduate degree on or after the date of 
        enactment of the Loan Forgiveness for Head Start Teachers Act 
        of 2007.''; and
            (3) by adding at the end the following:
    ``(i) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary for fiscal year 2011 and 
succeeding fiscal years to carry out loan repayment under this section 
for service described in clause (ii) of subsection (b)(1)(A).''.
    (c) Direct Student Loan Forgiveness.--
            (1) In general.--Section 460 of the Higher Education Act of 
        1965 (20 U.S.C. 1087j) is amended--
                    (A) in subsection (b)(1), by striking subparagraph 
                (A) and inserting the following:
                    ``(A)(i) has been employed--
                            ``(I) as a full-time teacher for 5 
                        consecutive complete school years in a school 
                        that qualifies under section 465(a)(2)(A) for 
                        loan cancellation for Perkins loan recipients 
                        who teach in such a school; or
                            ``(II) as a Head Start teacher for 5 
                        consecutive complete program years under the 
                        Head Start Act; and
                    ``(ii)(I) if employed as an elementary school or 
                secondary school teacher, is highly qualified as 
                defined in section 9101 of the Elementary and Secondary 
                Education Act of 1965, or meets the requirements of 
                subsection (g)(3); and
                    ``(II) if employed as a Head Start teacher, has 
                demonstrated knowledge and teaching skills in reading, 
                writing, early childhood development, and other areas 
                of a preschool curriculum, with a focus on cognitive 
                learning; and'';
                    (B) in subsection (g), by adding at the end the 
                following:
            ``(4) Head start.--An individual shall be eligible for loan 
        forgiveness under this section for service described in 
        subclause (II) of subsection (b)(l)(A)(i) only if such 
        individual received a baccalaureate or graduate degree on or 
        after the date of enactment of the Loan Forgiveness for Head 
        Start Teachers Act of 2007.''; and
                    (C) by adding at the end the following:
    ``(i) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary for fiscal year 2011 and 
succeeding fiscal years to carry out loan repayment under this section 
for service described in subclause (II) of subsection (b)(1)(A)(i).''.
    (d) Conforming Amendments.--
            (1) FFEL program.--Section 428J of the Higher Education Act 
        of 1965 (20 U.S.C. 1078-10) is amended--
                    (A) in subsection (c)(1), by inserting ``or fifth 
                complete program year'' after ``fifth complete school 
                year of teaching'';
                    (B) in subsection (f), by striking ``subsection 
                (b)'' and inserting ``subsection (b)(1)(A)(i)'';
                    (C) in subsection (g)(1)(A), by striking 
                ``subsection (b)(1)(A)'' and inserting ``subsection 
                (b)(1)(A)(i)''; and
                    (D) in subsection (h), by inserting ``except as 
                part of the term `program year','' before ``where''.
            (2) Direct loan program.--Section 460 of the Higher 
        Education Act of 1965 (20 U.S.C. 1087j) is amended--
                    (A) in subsection (c)(1), by inserting ``or fifth 
                complete program year'' after ``fifth complete school 
                year of teaching'';
                    (B) in subsection (f), by striking ``subsection 
                (b)'' and inserting ``subsection (b)(1)(A)(i)(I)'';
                    (C) in subsection (g)(1)(A), by striking 
                ``subsection (b)(1)(A)'' and inserting ``subsection 
                (b)(1)(A)(i)(I)''; and
                    (D) in subsection (h), by inserting ``except as 
                part of the term `program year','' before ``where''.