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H.R. 4859 - Public Service Loan Forgiveness Inclusion Act of 2018

Sponsor: Bill Foster (D)
Introduced: 2018-01-19
Bill Status: Referred to the House Committee on Education and the Workforce.
 
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Full Text


115th CONGRESS
2d Session
H. R. 4859


    To amend the Higher Education Act of 1965 to allow certain payments made by public service employees to qualify for public service repayment, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

January 19, 2018

    Mr. Foster (for himself, Mr. Meeks, Ms. Judy Chu of California, and Mr. Swalwell of California) introduced the following bill; which was referred to the Committee on Education and the Workforce


A BILL

    To amend the Higher Education Act of 1965 to allow certain payments made by public service employees to qualify for public service repayment, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Public Service Loan Forgiveness Inclusion Act of 2018”.

SEC. 2. Qualifying payments.

(a) In general.—Section 455(m) of the Higher Education Act of 1965 (20 U.S.C. 1087e(m)) is amended—

(1) in paragraph (1)(A) by inserting “subject to paragraph (5),” before “has made”; and

(2) by adding at the end the following:

“(5) FIRST 60 MONTHLY PAYMENTS.—

“(A) IN GENERAL.—For the purpose of meeting the requirement under subparagraph (A) of paragraph (1), the first 60 monthly payments may be payments under a repayment plan under subsection (d)(1) or (g).

“(B) APPLICABILITY.—This paragraph shall apply to borrowers who on or after the date of the enactment of this paragraph have made less than 120 monthly payments under paragraph (1)(A).”.

(b) Notification to borrowers.—Not later than 180 days after the date of the enactment of this Act, the Secretary of Education shall—

(1) inform each borrower of a loan made under part D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.) of—

(A) paragraph (5) of section 455(m) of the Higher Education Act of 1965 (20 U.S.C. 1087e(m)), as amended by this Act; and

(B) the effect of such paragraph on loan cancellation under such section 455(m) (20 U.S.C. 1087e(m)); and

(2) provide information to such borrowers on how to change repayment plans.


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