Sec. 7. Public service loan forgiveness
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/bill/114/hr/4260/ih/section-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 455(m) ( 20 U.S.C. 1087e(m) ) is amended— by redesignating paragraphs
(3)and
(4)as paragraphs
(4)and (5), respectively; and by inserting after paragraph
(2)the following: For purposes of this subsection, if a borrower has enrolled in a repayment plan described in paragraph (1)(A) and makes a lump sum payment through a student loan repayment program under section 2171 of title 10, United States Code, or a similarly structured eligible repayment program (as determined by the Secretary), the Secretary will treat the borrower as having made a number of qualifying payments equal to the lesser of— the number, rounded to the nearest whole number, equal to the quotient of— such lump sum payment, divided by the monthly payment amount that the borrower would have otherwise made under the repayment plan described in paragraph (1)(A) selected by the borrower; or 12 payments. .
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Sec. 7
Public service loan forgiveness
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