Bill > HR4893

This bill amends the Higher Education Act of 1965 to provide more favorable student loan forgiveness terms for members of the reserve components of the Armed Forces. Specifically, the bill creates a special rule that allows reservists to receive credit toward public service loan forgiveness based on their years of service. For a full year of covered service (defined as earning at least 80 points toward retired pay), the Secretary of Education will deem each month as a qualifying payment if the borrower made a corresponding monthly loan payment. For a partial year of service (50-79 points toward retired pay), up to six months can be counted as qualifying payments. The bill also mandates that the Departments of Defense and Education conduct annual data matching to identify and automatically certify reservists' service years and qualifying loan payments, without requiring additional action from the service members. This provision aims to make the public service loan forgiveness program more accessible and equitable for National Guard and Reserve members who may not be employed full-time in traditional public service jobs but still serve their country.

Labor and Employment

https://www.congress.gov/bill/119th-congress/house-bill/4893/all-info