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S. 1480: Recognizing Military Service in PSLF Act


The text of the bill below is as of Apr 29, 2021 (Introduced).


II

117th CONGRESS

1st Session

S. 1480

IN THE SENATE OF THE UNITED STATES

April 29, 2021

(for herself, Mr. Rubio, Mr. Kaine, Mr. Cramer, Mr. Reed, Ms. Murkowski, and Ms. Duckworth) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions

A BILL

To direct the Secretary of Education to deem each month for which certain Federal student loans are in deferment during a period of active duty service as months counted toward public service loan forgiveness.

1.

Short title

This Act may be cited as the Recognizing Military Service in PSLF Act.

2.

Active duty deferment periods counted toward public service loan forgiveness

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

(1)

by redesignating paragraphs (2) through (4) as paragraphs (3) through (5), respectively;

(2)

in paragraph (1), in the matter preceding subparagraph (A), by striking paragraph (2) and inserting paragraph (3); and

(3)

by inserting after paragraph (1) the following:

(2)

Active duty deferment periods

Notwithstanding any other provision of this subsection, the Secretary shall deem each month for which a loan payment was in deferment under subsection (f)(2) of this section or for which a loan payment was in forbearance under section 685.205(a)(7) of title 34, Code of Federal Regulations, (or similar successor regulations), for a borrower described in subsection (f)(2)(C) as if the borrower of the loan had made a payment for the purpose of public service loan forgiveness under this subsection.

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