Sec. 401. Extension of loan cancellation for borrowers employed in public service jobs for 5 years
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Section 455(m) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e ) is amended by adding at the end the following new paragraph: The Secretary shall also cancel 50 percent of the balance of interest and principal due on any eligible Federal Direct Loan not in default for borrowers employed in a public service job for 5 years during the repayment of such loans— by applying paragraph (1)(A)— by substituting 60 for 120 each place it appears; and by substituting October 1, 2007 for October 1, 2017 ; and by applying paragraph (2), by substituting 50 percent of the balance with the balance . .
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Sec. 401
Extension of loan cancellation for borrowers employed in public service jobs for 5 years
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