H.Roentgen.2034 – Income-Inspired Education loan Forgiveness Operate
Sponsor: Rep. Lawson [D-FL]
Cosponsors: 0
Introduced:
NASFAA Bottom line & Analysis: This bill would direct the Secretary of Education to forgive the balance of some federal student loans for eligible borrowers. Borrowers who filed a tax return for the most recent tax year, had an eligible loan in repayment, is employed, or had recent employment prior to the pandemic, and makes less than $100,000 if single, or $200,000 if married, would be eligible to receive forgiveness of their loan balance. The bill also stipulates that any forgiveness received would not be taxable.
H.R.1633 – Public service Mortgage Forgiveness Inclusion Work out of 2021
Sponsor: Rep. Foster [D-IL]
Cosponsors: 12
Introduced:
NASFAA Conclusion & Analysis: This bill would allow borrowers who would be eligible for PSLF but who were enrolled in a non eligible repayment plan, to have the first 60 monthly payments made under a graduated repayment or extended repayment plan to become qualifying payments under the PSLF.