Student Loan Forgiveness Would Get Easier, Quicker for Many Under New Bill
Summary
A new bipartisan bill in the U.S. House of Representatives aims to make it easier for teachers, nurses, and first responders to get federal student loan forgiveness. The bill would allow more repayment plans to count toward loan forgiveness under the Public Service Loan Forgiveness (PSLF) program, helping borrowers avoid the problem of payments not qualifying.Key Facts
- The bill is called the Public Service Loan Forgiveness Inclusion Act of 2026.
- It was introduced on September 4 by Democrat Bill Foster and Republican Brian Fitzpatrick.
- The bill would let payments made under Graduated, Extended, and new Tiered Standard Repayment Plans count toward the first 60 qualifying PSLF payments.
- Currently, only certain income-driven repayment plans qualify for PSLF.
- About 97% of public servants who applied for PSLF have been denied due to complex rules.
- The bill would help public servants get credit for payments even if they used plans that do not currently qualify.
- PSLF forgives loan balances after 10 years of full-time qualifying public service and 120 qualifying payments.
- The bill aims to fix problems where borrowers find out too late that their payments don’t count for forgiveness.
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