S 1331 · 118th Congress 2023–2025, ended

PSLF Payment Completion Fairness Act

Introduced Apr 27, 2023 Originated Senate Sponsor Robert Menendez D-NJ

Fact sheet

Latest action · Apr 10, 2024 Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.

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.

  1. IntroducedApr 27, 2023
  2. Passed SenateNot reached
  3. Passed HouseNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Public Service Loan Forgiveness Payment Completion Fairness Act or the PSLF Payment Completion Fairness Act

This bill removes the requirement that a borrower must be employed in a public service job at the time of loan forgiveness under the Public Service Loan Forgiveness (PSLF) program.

Under the current PSLF program, the Department of Education must cancel the balance of interest and principal due on a borrower's Federal Direct Loans after the borrower makes 120 monthly loan payments while employed in a public service job and, at the time of loan forgiveness, the borrower is employed in a public service job. This bill removes the requirement that the borrower must be working in a public service job at the time of loan forgiveness.

Cosponsors 1

Members who signed on, in the order they did. All signed on Apr 27, 2023.

SeatCosponsorSigned on
R-INMike BraunOriginalApr 27, 2023

Actions 3

Everything that happened, newest first.

  1. Apr 10, 2024Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy. Hearings held.
  2. Apr 27, 2023Introduced in Senate
  3. Apr 27, 2023Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HR 2949PSLF Payment Completion Fairness ActIdentical billApr 27, 2023

Subjects

Assigned by the Library of Congress. Policy area: Education.

Text 1

Each version as it was printed, newest first.

  1. Apr 27, 2023Introduced in Senate

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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.