Teacher Loan Forgiveness Improvement Act of 2021

Bill: 117-hr-2987
Sponsor: full_name: Rep. Luria, Elaine G. [D-VA-2]
Introduced: 2021-05-04
Policy area: Education
Latest action: action_date: 2021-05-04
text: Referred to the House Committee on Education and Labor.

Summaries:
action_date: 2021-05-04
action_desc: Introduced in House
text: <p><b>Teacher Loan Forgiveness Improvement Act of </b><strong>2021</strong></p> <p>This bill modifies the Teacher Loan Forgiveness program by increasing the amount of loan forgiveness available for certain qualified teachers who have federal student loans. The program provides loan forgiveness for teachers who are highly qualified, teach full-time in a low-income school or educational service agency, and complete five years of consecutive service.</p> <p>Specifically, the bill increases from $5,000 to $15,000 the amount of available loan forgiveness for an elementary or secondary school teacher in any subject.</p> <p>It also increases from $17,500 to $30,000 the amount of available loan forgiveness for a secondary school math or science teacher and for a special education teacher.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 2987 IN THE HOUSE OF REPRESENTATIVES May 4, 2021 Mrs. Luria introduced the following bill; which was referred to the Committee on Education and Labor A BILL To increase the amount of loan forgiveness available to teachers.

1. Short title This Act may be cited as the Teacher Loan Forgiveness Improvement Act of 2021 . 2. Increased loan forgiveness for teachers Section 428J(c) of the Higher Education Act of 1965 ( 20 U.S.C. 1078–10(c) ) is amended— (1) in paragraph (1), by striking $5,000 and inserting $15,000 ; and (2) in paragraph (3), by striking $17,500 and inserting $30,000 . 3. Increased loan cancellation for teachers Section 460(c) of the Higher Education Act of 1965 ( 20 U.S.C. 1087j(c) ) is amended— (1) in paragraph (1), by striking $5,000 and inserting $15,000 ; and (2) in paragraph (3), by striking $17,500 and inserting $30,000 . 4. Application of amendments The amendments made by this Act shall apply with respect to any borrower who completes the fifth complete school year of teaching required for loan forgiveness under section 428J(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1078–10(b) ), or for loan cancellation under section 460(b) of such Act ( 20 U.S.C. 1087j(b) ), on or after the date of enactment of this Act.