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.