PSLF Payment Completion Fairness Act

Bill: 117-hr-7465
Sponsor: full_name: Rep. Houlahan, Chrissy [D-PA-6]
Introduced: 2022-04-07
Policy area: Education
Latest action: action_date: 2022-04-07
text: Referred to the House Committee on Education and Labor.

Summaries:
action_date: 2022-04-07
action_desc: Introduced in House
text: <p><strong>Public Service Loan Forgiveness Payment Completion Fairness Act or the PSLF Payment Completion Fairness Act</strong></p> <p>This bill removes the requirement that a borrower must be employed in a public service job at the time of loan forgiveness under the Public Service Loan Forgiveness (PSLF) program.</p> <p>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 removes the requirement that the borrower must be working in a public service job at the time of loan forgiveness.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 7465 IN THE HOUSE OF REPRESENTATIVES April 7, 2022 Ms. Houlahan (for herself and Mr. Baird ) introduced the following bill; which was referred to the Committee on Education and Labor A BILL To ensure that borrowers who have performed qualifying public service are eligible for Public Service Loan Forgiveness.

1. Short title This Act may be cited as the Public Service Loan Forgiveness Payment Completion Fairness Act or the PSLF Payment Completion Fairness Act . 2. Public Service Loan Forgiveness Section 455(m)(1)(B) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(m)(1)(B) ) is amended by striking (i) is employed and all that follows through (ii) has been and inserting has been .