Recognizing Military Service in PSLF Act
This bill requires the Department of Education to count each month for which a borrower's federal student loan payment was in deferment or forbearance during a period of active duty, including certain National Guard duty, as a qualifying payment for the purpose of the Public Service Loan Forgiveness (PSLF) program.
Under current law, a borrower who is a service member is eligible to receive student loan forgiveness under the PSLF program; however, if the borrower places their loan into deferment or forbearance while they are on active duty, that period of time does not count as a qualifying payment for the PSLF program.