What is the official ID of this bill?
The official print number for this legislation is S 2478.
Easier Student Loan Forgiveness for Public Service Workers
New rules make it easier to forgive parts of student loans for individuals working in public service. After completing specific employment periods, a portion of the debt can be canceled, reducing financial burden and encouraging public service. The act also introduces loan deferment during public service employment.
Key points
Partial student loan (Federal Direct Loan) forgiveness possible after 2, 4, 6, 8, or 10 years of public service employment.
Forgiveness ranges from 15% to 30% of the original loan amount, depending on employment duration.
During public service employment, loans can be deferred, and accrued interest for that period will be canceled.
Applies to new loans taken out after the act's enactment date.
Status:
Expired
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