Sec. 3. Transition to improved public service loan forgiveness program
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By not later than July 1, 2019, the Secretary shall, for each borrower that has submitted a certification of employment under the public service loan forgiveness program under section 455(m) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e ) before July 1, 2019— calculate the number of qualifying payment obligations under such section satisfied by the borrower, using the criteria of such section as in effect on July 1, 2019; and inform the borrower of the changes in the public service loan forgiveness program and the number of qualifying payment obligations that the borrower will have satisfied for purposes of the program, beginning on July 1, 2019.
By not later than July 1, 2019, the Secretary shall take such steps as are necessary to provide partial loan forgiveness under section 455(m)(3)(A)(i) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(m)(3)(A)(i) ), as in effect on such date, to borrowers with outstanding balance of principal and interest on a loan made under this part who met the criteria for partial loan forgiveness under such section, as in effect on July 1, 2019, before such date but on or after October 1, 2007.
In carrying out paragraphs
(1)and (2), and in any other case where the Secretary is applying the loan forgiveness provisions of section 455(m) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(m) ), as in effect on July 1, 2019, to a borrower for whom one or more payment obligations were satisfied before July 1, 2019, the Secretary shall determine the number of payment obligations satisfied by applying all of the provisions of such section as in effect on July 1, 2019, including the calculation of payment obligations under section 455(m)(5) of such Act and the inclusion of payment obligations satisfied through the component loans of a Federal Direct Consolidation Loan under section 455(m)(6), without regard as to the date on which the payment obligation was satisfied. In this section, the term special PSLF program funds means the amounts appropriated for public service loan forgiveness under section 315 of division H of the Consolidated Appropriations Act, 2018 ( Public Law 115–141 ; March 23, 2018) or under section 313 of division B of the Department of Defense and Labor, Health and Human Services, and Education Appropriations Act, 2019 and Continuing Appropriations Act, 2019 ( Public Law 115–245 ; September 28, 2018). Upon the effective date described in section 2(c), all special PSLF program funds that remain unexpended on such date shall be rescinded. The Secretary of Education shall establish a process through which the Secretary shall— review the applications of borrowers who applied for the loan forgiveness program carried out with special PSLF program funds but had not received loan forgiveness through such program before July 1, 2019; and assist such borrowers in pursuing loan forgiveness under section 455(m) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(m) ), as in effect on July 1, 2019.
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Sec. 3
Transition to improved public service loan forgiveness program
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