S 1331 · 118th Congress · Education

PSLF Payment Completion Fairness Act

Introduced 2023-04-27· Sponsored by Sen. Menendez, Robert [D-NJ]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.(2024-04-10)

Plain Language Summary

[AI summary unavailable — showing source text] Public Service Loan Forgiveness Payment Completion Fairness Act or the PSLF Payment Completion Fairness Act This bill removes the requirement that a borrower must be employed in a public service job at the time of loan forgiveness under the Public Service Loan Forgiveness (PSLF) program. Under the current PSLF program, the Department of Education must cancel the balance of interest and principal due on a borrower's Federal Direct Loans after the borrower makes 120 monthly loan payments while employed in a public service job and, at the time of loan forgiveness, the borrower is employed in a public service job. This bill removes the requirement that the borrower must be working in a public service job at the time of loan forgiveness.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican