Sec. 3. Cancellation of Federal Perkins Loans for certain part-time public service
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/bill/115/hr/5944/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 465(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1087ee(a) ) is amended— in paragraph (2)— in subparagraph (L), by striking or at the end of clause (ii); in subparagraph (M), by striking the period at the end and inserting ; or ; and by inserting after subparagraph
(M)the following new subparagraph: described in subparagraphs
(A)through
(M)that is performed on a part-time basis, as determined in accordance with paragraph (8), provided that the individual performing such service is not engaging in gainful employment other than such eligible part-time service. ; in paragraph (3)(A)— by striking or at the end of clause (ii); by striking the period at the end of clause
(iii)and inserting ; or ; and by adding at the end the following new clause: in the case of service described in subparagraph
(N)of paragraph (2), at the rate of 5 percent for the first or second year of such service, 10 percent for the third or fourth year of such service, and 15 percent for the fifth year of such service. ; and by adding at the end the following new paragraph: For the purpose of this section, the term part-time means less than full-time service— for at least 20 hours per week for a complete year; or for at least 3 full days per week, or for partial days equaling at least 3 full days per week, for a complete year. .
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Sec. 3
Cancellation of Federal Perkins Loans for certain part-time public service
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