[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7457 Introduced in House (IH)]
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118th CONGRESS
2d Session
H. R. 7457
To direct the Secretary of Education to count months during which Peace
Corps volunteers and AmeriCorps members have eligible Federal Direct
Loans in deferment or forbearance toward eligibility for public service
loan forgiveness, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 26, 2024
Mr. Garamendi (for himself, Mr. Lynch, Ms. Norton, Ms. Lofgren, Mr.
Carson, Ms. Moore of Wisconsin, Mr. Trone, and Ms. Garcia of Texas)
introduced the following bill; which was referred to the Committee on
Education and the Workforce
_______________________________________________________________________
A BILL
To direct the Secretary of Education to count months during which Peace
Corps volunteers and AmeriCorps members have eligible Federal Direct
Loans in deferment or forbearance toward eligibility 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 ``Peace Corps and AmeriCorps Student
Loan Forgiveness Act''.
SEC. 2. DEFERMENT PERIODS FOR PEACE CORPS VOLUNTEERS AND AMERICORPS
MEMBERS COUNTED TOWARD PUBLIC SERVICE LOAN FORGIVENESS.
(a) In General.--Section 455(m) of the Higher Education Act of 1965
(20 U.S.C. 1087e(m)) is amended--
(1) by redesignating paragraphs (2) through (4) as
paragraphs (3) through (5), respectively;
(2) in paragraph (1), in the matter preceding subparagraph
(A), by striking ``paragraph (2)'' and inserting ``paragraph
(3)''; and
(3) by inserting after paragraph (1) the following:
``(2) Treatment of certain periods of deferment or
forbearance.--
``(A) In general.--Notwithstanding any other
provision of this subsection, each month of a period
described in subparagraph (B) with respect to a
borrower of an eligible Federal Direct Loan shall be
treated as if the borrower made a qualifying payment
under paragraph (1)(A) on such loan.
``(B) Period described.--A period described in this
subparagraph is any period after October 1, 2007,
during which a borrower--
``(i) owes an outstanding balance on an
eligible Federal Direct Loan;
``(ii) is in an authorized period of
deferment or forbearance; and
``(iii) serves--
``(I) as a Peace Corps volunteer or
volunteer leader (as referred to in the
Peace Corps Act (22 U.S.C. 2501 et
seq.)); or
``(II) in an approved national
service position (as defined in section
101 of the National and Community
Service Act of 1990 (42 U.S.C.
12511)).''.
(b) Consultation Requirement.--In implementing section 455(m)(2) of
the Higher Education Act of 1965 (20 U.S.C. 1087e(m)(2)) (as amended by
subsection (a) of this section) the Secretary of Education shall
consult with--
(1) the Director of the Peace Corps;
(2) the Chief Executive Officer of the Corporation for
National and Community Service; and
(3) borrowers who may be affected by the implementation of
such section, including current and former volunteers of the
Peace Corps and current and former AmeriCorps members.
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