Public Service Appreciation Through Loan Forgiveness Act
This bill requires the Department of Education (ED) to implement a partial student loan forgiveness reduction schedule and conduct awareness activities relating to the Public Service Loan Forgiveness (PSLF) program.
Specifically, ED must
- implement a public service loan forgiveness reduction schedule to cancel principal and interest due on Federal Direct Loans based on the number of payments made by the borrower,
- develop informational materials relating to the eligibility requirements of the PSLF program,
- make the informational materials available on its website and conduct outreach to not-for-profit institutions and government organizations about the availability of these materials, and
- establish an online portal for borrowers to submit employment certification forms.