S 5586 United States Senate · 118th Congress

Strengthening Loan Forgiveness for Public Servants Act

This bill creates a new student loan forgiveness program for public servants who take out federal loans after the law passes. It forgives 15% of the loan balance after 2 years of public service, increasing to 30% after 10 years, based on the loan amount when they started the job. Borrowers must submit an employment certification form to qualify, and the program also cancels interest accrued during the application review period. It directly affects public servants (like teachers, firefighters, and government workers) with new federal student loans who work full-time in qualifying roles for the required years.
Bill status in committee 1 of 4 stages cleared
Introduction
Dec 2024
Committee Review
Floor Vote
President
Introduced Dec 18, 2024 Last action Dec 18, 2024
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Dec 18, 2024
Committee
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
upper
Dec 18, 2024
Introduced
Introduced in Senate
upper
1 primary · 4 co-sponsors

Sponsors