Student Loan Relief: Faster Forgiveness and Interest Reimbursement
This bill aims to ease the burden of federal student loan repayment for public service workers. It shortens the time required for debt forgiveness and provides reimbursement for paid interest, potentially significantly reducing financial strain for many citizens.
Key points
50% debt cancellation after 5 years (60 payments) of public service, instead of the previous 10 years.
Remaining debt cancellation after another 5 years (total 10 years) of public service.
Reimbursement of all interest paid after each 5-year period of public service.
Codification of the Limited PSLF Waiver program rules, making it easier to qualify for debt forgiveness.
Status:
Expired
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