[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6087 Introduced in House (IH)]
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116th CONGRESS
2d Session
H. R. 6087
To amend the Higher Education Act of 1965 to create a reduction
schedule for public service loan forgiveness, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 4, 2020
Mr. Lipinski introduced the following bill; which was referred to the
Committee on Education and Labor
_______________________________________________________________________
A BILL
To amend the Higher Education Act of 1965 to create a reduction
schedule for public service loan forgiveness, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Public Service Appreciation Through
Loan Forgiveness Act''.
SEC. 2. DEPARTMENT ACTIVITIES.
Not later than 180 days after the date of the enactment of this
Act, the Secretary of Education shall--
(1) develop informational materials with respect to the
eligibility requirements of the public service loan forgiveness
program under section 455(m) of the Higher Education Act of
1965 (20 U.S.C. 1087e(m));
(2) make such informational materials available on the
website of the Department of Education;
(3) conduct outreach to not-for-profit institutions and
government organizations that regularly employ individuals
eligible for such public service loan forgiveness program
benefits to inform such institutions and organization of such
informational materials; and
(4) establish an online portal for borrowers to submit
employment certification forms to certify employment in a
public service job (as defined in such section 455(m)(3)).
SEC. 3. PUBLIC SERVICE LOAN FORGIVENESS REDUCTION SCHEDULE.
Section 455(m) of the Higher Education Act of 1965 (20 U.S.C.
1087e(m)) is amended by adding at the end the following:
``(5) Reduction schedule.--
``(A) 10 percent cancellation.--The Secretary shall
cancel 10 percent of the balance of interest and
principal due on any eligible Federal Direct Loan not
in default for a borrower who--
``(i) has made 48 monthly payments
described in paragraph (1)(A);
``(ii) is employed in a public service job
at the time of such cancellation; and
``(iii) has been employed in a public
service job during the period in which the
borrower makes each of the 48 payments
described in clause (i).
``(B) 20 percent cancellation.--The Secretary shall
cancel 20 percent of the balance of interest and
principal due on any eligible Federal Direct Loan not
in default for a borrower who--
``(i) has made 72 monthly payments
described in paragraph (1)(A);
``(ii) is employed in a public service job
at the time of such cancellation; and
``(iii) has been employed in a public
service job during the period in which the
borrower makes each of the 72 payments
described in clause (i).
``(C) 50 percent cancellation.--The Secretary shall
cancel 50 percent of the balance of interest and
principal due on any eligible Federal Direct Loan not
in default for a borrower who--
``(i) has made 96 monthly payments
described in paragraph (1)(A);
``(ii) is employed in a public service job
at the time of such cancellation; and
``(iii) has been employed in a public
service job during the period in which the
borrower makes each of the 96 payments
described in clause (i).
``(D) Eligibility for further reductions allowed.--
A borrower may, for the same service, receive a
reduction of loan obligations--
``(i) under each of subparagraphs (A), (B),
and (C) of this paragraph; and
``(ii) under paragraph (1).''.
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