Sec. 1105. Study on public service loan forgiveness
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By not later than 1 year after the date of enactment of this Act, the Secretary shall, in consultation with the Director of the Bureau of Consumer Financial Protection, prepare and submit to the Committee on Health, Education, Labor, and Pensions of the Senate and the Committee on Education and the Workforce of the House of Representatives a report evaluating the effectiveness of the public service loan forgiveness program under section 455(m) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(m) ). The report required under subsection
(a)shall include— an analysis of total borrowing for prospective recipients of loan forgiveness under section 455(m) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(m) ), including participants that have completed the certification form developed by the Secretary pursuant to such section; an analysis of the public service entities employing prospective recipients of loan forgiveness under such section, including public service organizations identified on the certification forms developed by the Secretary pursuant to such section; an analysis of the impact of the availability of public service loan forgiveness under such section on the utilization of other benefits established to encourage or reward public service employment under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 ), including the programs established under sections 428J, 460, and 465 of such Act ( 20 U.S.C. 1078–10 , 1087j, and 1087ee); an analysis of the impact public service loan forgiveness under section 455(m) of such Act has had on the existence of loan repayment assistance programs offered by institutions of higher education for students employed in public service; an evaluation of the impact of the public service loan forgiveness program under such section on total tuition and fees at institutions where the Secretary finds a reasonable number of borrowers are both— prospective recipients of loan forgiveness under section 455(m), as described in paragraph (1); and recipients of an award under a loan repayment assistance program made by an institution of higher education described in paragraph (4); an evaluation of the impact of borrowers described in paragraph
(5)on total program costs for the public service loan forgiveness program under section 455(m); and an evaluation of the cost and feasibility of altering the public service loan forgiveness program carried out under section 455(m) of the Higher Education Act of 1965 (20 U.S.C. 1087e(m)) in order to allow a proportionate percentage of loan cancellation for each year of public service that the individual completes, and a comparison of the estimated costs of such a prorated program with the estimated costs of the public service loan forgiveness program carried out under such section 455(m), as in effect on the date of the study.
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- 20 USC 1078–10
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