Supporting the Teaching profession through Revitalizing Investments in Valuable Educators Act or the STRIVE Act
This bill provides qualifying teachers with a new, incremental loan-cancellation program.
Specifically, with respect to a 12-month period, the Department of Education (ED) must cancel a specified portion of a borrower's qualifying Federal Direct Loan program loans if the borrower (1) has made 12 consecutive on-time monthly payments, (2) is employed in a qualifying teaching position at the time of such cancellation, and (3) was employed in a qualifying teaching position during the period in which the borrower made the 12 payments. After a borrower has received such partial loan cancellation for a specified number of years, ED must cancel the borrower's eligible loans in full.
The bill also