PSLF Administrative Improvements Act
This bill revises provisions related to the Public Service Loan Forgiveness (PSLF) program.
Specifically, the bill requires the Department of Education (ED) to establish a publicly accessible database of public service employers, which must include information required for the completion of employment certification forms. Such forms must also be available in languages other than English.
ED must annually provide certain notices of PSLF program requirements to public service employers and institutions of higher education. In addition, ED must determine whether a borrower who was denied loan cancellation under the PSLF program qualifies for loan cancellation under the Temporary Expanded Public Service Loan Forgiveness program.
The bill requires ED to enter into data matching agreements with relevant federal agencies. In addition, the Department of Labor, the Internal Revenue Service, and the Social Security Administration must disclose any relevant records to ED. ED must notify borrowers of receipt of employer or employment information.
Additionally, it requires ED to ensure that (1) borrowers have access to an online portal that provides borrowers with certain instructions and information, including the number of monthly payments on qualifying loans; and (2) employers have the ability to electronically sign and submit forms associated with loan cancellation.
It also requires ED to develop and make publicly available procedures for determining whether a borrower meets the requirements for loan cancellation under the PSLF program.