Bill Sponsor
Senate Bill 3760
116th Congress(2019-2020)
Strengthening Loan Forgiveness for Public Servants During the COVID–19 Crisis Act
Introduced
Introduced
Introduced in Senate on May 19, 2020
Overview
Text
Introduced
May 19, 2020
Latest Action
May 19, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3760
Congress
116
Policy Area
Education
Education
Primary focus of measure is elementary, secondary, or higher education including special education and matters of academic performance, school administration, teaching, educational costs, and student aid.
Sponsorship by Party
Democrat
Connecticut
Democrat
Maryland
Democrat
Massachusetts
Democrat
Massachusetts
Democrat
Minnesota
Democrat
New Jersey
Democrat
New Mexico
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Strengthening Loan Forgiveness for Public Servants During the COVID-19 Crisis Act

This bill revises the Public Service Loan Forgiveness (PSLF) program to provide for partial loan cancellation based on the length of public service employment. It also allows public service employees who are impacted by the COVID-19 (i.e., coronavirus disease 2019) public health emergency to continue to participate, without disruption, in the PSLF program.

First, the bill directs the Department of Education (ED) to cancel 15%, 15%, 20%, 20%, and 30% of the amount a borrower owes after 2, 4, 6, 8, and 10 years of public service employment, respectively, on Federal Direct Loans made after the bill's enactment.

In addition, an individual who was employed in a public service job and who experiences lapse in employment (e.g., a furlough, a layoff, or the individual's resignation due to illness or caregiving responsibilities) because of the COVID-19 public health emergency may continue to participate in the PSLF program without disruption. The bill treats such an individual as employed in a public service job during the emergency and deems a monthly payment made by the individual as a qualifying monthly payment toward loan cancellation under the PSLF program. However, unless the individual would have completed requirements for partial or full loan cancellation during the public health emergency, the individual must resume employment in a public service job within six months after the end of the emergency.

Finally, ED must develop and make available guidance related to certain assistance provided by the bill.
Text (1)
Actions (2)
05/19/2020
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
05/19/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:42:39 PM