Public Interest Lawyer Assistance and Relief Act - Directs the Secretary of Education to carry out a student loan forgiveness program for any borrower who agrees to complete three years of service as a public interest lawyer.
Directs the Secretary, under such program, to: (1) repay up to $20,000 of such borrower's obligation on a loan made, insured, or guaranteed under part B (Federal Family Education Loan Program) or D (Federal Perkins Loans) of title IV (Student Assistance) of the Higher Education Act of 1965 (HEA); and (2) provide for deferment of repayment of such loans by such borrower while employed as a public interest lawyer.
Excludes from such program Federal PLUS loans (to parents) and Federal consolidation loans under part B or comparable loans made under part D. Allows certain amounts under consolidation loans to qualify for such program.
Treats an individual as serving as a public interest lawyer eligible to apply for such program after completion of a year of service as a practicing attorney in: (1) local, State, or Federal government; (2) a tax-exempt organization; or (3) a judicial clerkship.
Provides such loan repayment on a first-come, first-serve basis, and subject to the availability of appropriations and to any limitations imposed by the Secretary. Directs the Secretary to create or designate an administering entity for such program within the Department of Education.