H.R.2661 - Education for Public Service Act of 2007110th Congress (2007-2008)
|Sponsor:||Rep. Sarbanes, John P. [D-MD-3] (Introduced 06/11/2007)|
|Committees:||House - Education and Labor|
|Latest Action:||07/24/2007 Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness. (All Actions)|
|Notes:||For further action, see H.R.2669 as enacted, Section 401, Loan Forgiveness for Public Service Employees. H.R. 2669 became Public Law 110-84 on 9/27/2007.|
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Summary: H.R.2661 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in House (06/11/2007)
Education for Public Service Act of 2007 - Amends the Higher Education Act of 1965 to direct the Secretary of Education to forgive the balance due on Direct Loans and direct consolidation loans by individuals who have been public sector employees for 10 years and have made 120 income contingent payments on such loans.
Revises income contingent Direct Loan repayment schedules for married borrowers to attribute to the borrower one-half (rather than all) of the combined adjusted gross income of the borrower and the borrower's spouse.