Sec. 2. Expanding FFEL loan forgiveness program to early childhood educators

364 words·~2 min read·/bill/113/s/440/is/section-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 428J of the Higher Education Act of 1965 (20 U.S.C. 1078–10) is amended— in the section heading, by inserting before early childhood educators and elementary and secondary school ; teachers by striking subsection

(b)and inserting the following: The Secretary shall carry out a program, through the holder of the loan, of assuming the obligation to repay a qualified loan amount for a loan made under section 428 or 428H, in accordance with subsection (c), for any borrower who— is a new borrower on or after October 1, 1998, and has been employed as a full-time teacher for 5 consecutive complete school years— in a school or location that qualifies under section 465(a)(2)(A) for loan cancellation for Perkins loan recipients who teach in such schools or locations; and if employed as an elementary school or secondary school teacher, is highly qualified as defined in section 9101 of the Elementary Secondary Education Act of 1965, or meets the requirements of subsection (g)(3); or has been employed as a full-time early childhood educator at an early childhood program for 5 consecutive complete school years or a comparable period, as determined by the Secretary; and obtained an associate degree or baccalaureate degree in early childhood education from an institution of higher education prior to the beginning of the period described in clause (i); and is not in default on a loan for which the borrower seeks forgiveness. ; by striking paragraph

(1)of subsection

(c)and inserting the following: Of the loan obligation on a loan made under section 428 or 428H that is outstanding after the completion of the fifth complete school year of teaching described in subsection (b)(1) or comparable period (in accordance with subsection (b)(1)(B)(i)), the Secretary shall repay not more than— $5,000 in the aggregate for a borrower described in subsection (b)(1)(A), except as provided in paragraph (3); and $25,000 in the aggregate for a borrower described in subsection (b)(1)(B). No borrower may receive a reduction of loan obligations under both this section and section 460. ; and in subsection (g)— in paragraph (1)(A), by striking (b)(1)(A) and inserting (b)(1)(A)(i) ; and in paragraph (3), by striking (b)(1)(B) and inserting (b)(1)(A)(ii) .

Connections1 off-index

1 reference not yet in our index

20 USC 1078–10

Citation graph

cites case law

Sec. 2

Expanding FFEL loan forgiveness program to early childhood educators

Cite20 USC 1078–10

Cites 1Cited by 0 across 0 sources