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H.R. 4859 (115th): Public Service Loan Forgiveness Inclusion Act of 2018

The text of the bill below is as of Jan 19, 2018 (Introduced).


I

115th CONGRESS

2d Session

H. R. 4859

IN THE HOUSE OF REPRESENTATIVES

January 19, 2018

(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.

1.

Short title

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

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.