Bill > A5662

Introduced Session

This bill requires an employer in the State who is designated as a qualifying employer under the federal Public Service Loan Forgiveness Program (PSLF), established under the "College Cost Reduction and Access Act," to provide information concerning the PSLF program to employees during the explanation of benefits conducted at the beginning of employment. Under this bill, a qualifying employer will be required to notify an employee about potential eligibility for the PSLF program and of the requirements to qualify for the PSLF program, which include, but are not limited to, the following: · employment by a qualifying employer; · a work schedule of at least 30 hours per week for the qualifying employer or a schedule that meets the qualifying employer's definition of full-time work, whichever is greater; · a balance with the William D. Ford Federal Direct Loan (Direct Loan) Program offered by the U.S. Department of Education or consolidation of other federal student loans into a Direct Loan; · repayment of loans under an income-driven repayment plan; and · payment of 120 payments.

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Bill Moen (D)*, 

Introduced, Referred to Assembly Labor Committee (on 05/12/2021)