Search Results for keywords:"interest cancellation"

Search Results: keywords:"interest cancellation"

H. R. 10507 — To amend the Higher Education Act of 1965 to provide for a percentage of student loan forgiveness for public service employment, and for other purposes.
December 18, 2024
Status:Introduced in House
Congress:118
Words:881
H.R. 10507, titled the "Strengthening Loan Forgiveness for Public Servants Act," proposes amendments to the Higher Education Act of 1965. The bill aims to enhance the Public Service Loan Forgiveness program by specifying percentages of student loan cancellation for individuals working in...
Simple Explanation
H.R. 10507 is a plan to help people who work in public service jobs by taking away part of the money they owe for school loans depending on how long they work in those jobs. If someone works in a public service job for 10 years, they can get up to 30% of their school loan forgiven.
S. 5586 — To amend the Higher Education Act of 1965 to provide for a percentage of student loan forgiveness for public service employment, and for other purposes.
December 18, 2024
Status:Introduced in Senate
Congress:118
Words:897
S. 5586 aims to change the Higher Education Act of 1965 by introducing a program that forgives a portion of student loans for those working in public service jobs. Borrowers can have their loan amounts reduced incrementally: 15% after 2 and 4 years, 20% after 6 and 8 years,...
Simple Explanation
This bill wants to make it easier for people who work in helping jobs, like firefighters or teachers, to have some of their school loan money erased after working for certain years, so they can pay back less.

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