H.R. 2829, also called the "SERVICE Act," aims to improve the Public Service Loan Forgiveness (PSLF) program and reduce interest rates for borrowers. The bill proposes several changes to the program, including the reduction of required monthly payments from 120 to 96, enhancements to the...
Simple Explanation
The bill wants to help students who borrowed money for college and work in public service by making it easier to have their loans forgiven sooner and pay less interest. It also talks about creating online tools to help them track their progress and find jobs that qualify for loan forgiveness.