Teacher Loan Repayment Act of 2015
Latest action · Jul 29, 2015 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 29, 2015
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Teacher Loan Repayment Act of 2015
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify the financial aid programs for teachers.
Specifically, it terminates the authority of the Department of Education (ED) to: (1) award new grants under the Teacher Education Assistance for College and Higher Education (TEACH) Grant program and (2) enter new loan forgiveness agreements under the under the Teacher Loan Forgiveness program.
The bill authorizes and directs ED to administer a new loan repayment for teachers program. To qualify, a borrower must be a full-time teacher in a low-income school or location and meet other requirements. ED, on behalf of a qualified borrower, makes $250-$400 direct monthly payments on Federal Family Education Loan or Direct Loan program Subsidized, Unsubsidized, and, in certain circumstances, Consolidation Loans.
To remain eligible for loan repayment, a borrower must continue to be employed in the school or location of initial eligibility.
The total maximum loan repayment amount is $23,400 over six years. A borrower must repay the remaining principal and interest.
An individual who currently participates in the Teacher Loan Forgiveness program may continue participating in such program or enter the new loan repayment for teachers program.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Jul 29, 2015 to May 26, 2016; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-VA | Mark R. Warner | Original | Jul 29, 2015 |
| R-NH | Kelly Ayotte | May 26, 2016 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Health, Education, Labor, and Pensions Committee | Referred Jul 29, 2015 |
Actions 2
Everything that happened, newest first.
- Jul 29, 2015Introduced in Senate
- Jul 29, 2015Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1247 | Teacher Loan Repayment Act of 2017 | Reintroduced Bill | May 25, 2017 |
| HR 3359 | Teacher Loan Repayment Act of 2015 | Identical bill | Nov 16, 2015 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to provide for loan repayment for teachers in high-need schools.
- Short Titles as Introduced
- Teacher Loan Repayment Act of 2015
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- Jul 29, 2015Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
