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Easier Student Loan Forgiveness for Public Service Workers

This act modifies the public service loan forgiveness program, allowing earlier partial debt cancellation for individuals working in public service after a specific number of monthly payments. This could significantly reduce financial burdens for many citizens. Additionally, the Department of Education will develop accessible informational materials and an online portal to streamline the application process.
Key points
10% loan cancellation possible after 48 months (4 years) of payments and public service employment.
20% loan cancellation possible after 72 months (6 years) of payments and public service employment.
50% loan cancellation possible after 96 months (8 years) of payments and public service employment.
Department of Education to create new informational materials and an online portal for easier understanding and application.
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Additional Information
Print number: 117_HR_251
Sponsor: Rep. Krishnamoorthi, Raja [D-IL-8]
Process start date: 2021-01-11