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PSLF Payment Completion Fairness Act

USA118th CongressS-1331| Senate 
| Updated: 4/10/2024
Robert Menendez

Robert Menendez

Democratic Senator

New Jersey

Cosponsors (1)
Mike Braun (Republican)

Health, Education, Labor, and Pensions Committee, Economic Policy Subcommittee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Apr 27, 2023

Latest Companion Bill Action

HR 118-2949
Introduced in House
Apr 27, 2023
Introduced in Senate
Apr 27, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Apr 10, 2024
Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.
  • April 27, 2023

    Latest Companion Bill Action

    HR 118-2949
    Introduced in House


  • April 27, 2023
    Introduced in Senate


  • April 27, 2023
    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.


  • April 10, 2024
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.

Education

Related Bills

  • HR 118-2949: PSLF Payment Completion Fairness Act
Government lending and loan guaranteesHigher educationStudent aid and college costs

PSLF Payment Completion Fairness Act

USA118th CongressS-1331| Senate 
| Updated: 4/10/2024
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 27, 2023

Latest Companion Bill Action

HR 118-2949
Introduced in House
Apr 27, 2023
Introduced in Senate
Apr 27, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Apr 10, 2024
Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.
  • April 27, 2023

    Latest Companion Bill Action

    HR 118-2949
    Introduced in House


  • April 27, 2023
    Introduced in Senate


  • April 27, 2023
    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.


  • April 10, 2024
    Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.
Robert Menendez

Robert Menendez

Democratic Senator

New Jersey

Cosponsors (1)
Mike Braun (Republican)

Health, Education, Labor, and Pensions Committee, Economic Policy Subcommittee, Banking, Housing, and Urban Affairs Committee

Education

Related Bills

  • HR 118-2949: PSLF Payment Completion Fairness Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Government lending and loan guaranteesHigher educationStudent aid and college costs