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Easier Student Loan Forgiveness for Peace Corps and AmeriCorps Volunteers

This act aims to simplify federal student loan forgiveness for individuals who served in the Peace Corps or AmeriCorps. Periods of loan deferment or forbearance during their service will now count towards eligible payments, accelerating debt relief.
Key points
Periods when Peace Corps and AmeriCorps volunteers deferred or forebore federal student loan payments will count towards the required time for loan forgiveness.
This change applies to service periods after October 1, 2007, potentially helping many former and current volunteers achieve faster debt relief.
The Department of Education will consult with Peace Corps and AmeriCorps organizations, as well as volunteers, to properly implement the new rules.
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Additional Information
Peace Corps and AmeriCorps Student Loan Forgiveness Act
Print number: HR 7457
Sponsor: Rep. Garamendi, John [D-CA-8]
Process start date: 2024-02-26