To amend the Higher Education Act of 1965 to provide undergraduate student loan forgiveness for public school teachers who provide 8 years of consecutive teaching service.
Summary
What This Bill Does
The bill amends Part G of title IV of the Higher Education Act of 1965 to add new Section 494A establishing public school teacher loan forgiveness for undergraduate loans, exempts new Section 494A of the Higher Education Act: the operative text of the public school teacher loan forgiveness program, and amends multiple sections of the Higher Education Act (455(f), 427(a)(2)(C), 428(b)(1)(M), 464(c)(2)(A)) to add a new loan deferment category for public school teachers. It relies on exemptions, tax deductions, reporting requirements, and compliance mandates. The main policy areas are Education and Finance.
Who Benefits and How
Public elementary and secondary schools would be affected, Public school teachers with undergraduate student loans could see lower costs, and Public school teachers with student loans could see lower costs.
Who Bears the Burden and How
Federal government (taxpayers) could face higher costs, U.S. Department of Education could face higher costs, and Internal Revenue Service would be affected.
Key Provisions
- Amends Part G of title IV of the Higher Education Act of 1965 to add new Section 494A establishing public school teacher loan forgiveness for undergraduate loans.
- Exempts new Section 494A of the Higher Education Act: the operative text of the public school teacher loan forgiveness program.
- Amends multiple sections of the Higher Education Act (455(f), 427(a)(2)(C), 428(b)(1)(M), 464(c)(2)(A)) to add a new loan deferment category for public school teachers.
- Amends IRC Section 6103(l)(13) to authorize the Secretary of the Treasury to disclose tax return information to the Secretary of Education for purposes of verifying employment for teacher loan forgiveness under new...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill amends Part G of title IV of the Higher Education Act of 1965 to add new Section 494A establishing public school teacher loan forgiveness for undergraduate loans, exempts new Section 494A of the Higher Education Act: the operative text of the public school teacher loan forgiveness program, and amends multiple sections of the Higher Education Act (455(f), 427(a)(2)(C), 428(b)(1)(M), 464(c)(2)(A)) to add a new loan deferment category for public school teachers.
Key Policy Areas
Education, Finance
Primary Purpose
The bill amends Part G of title IV of the Higher Education Act of 1965 to add new Section 494A establishing public school teacher loan forgiveness for undergraduate loans, exempts new Section 494A of the Higher Education Act: the operative text of the public school teacher loan forgiveness program, and amends multiple sections of the Higher Education Act (455(f), 427(a)(2)(C), 428(b)(1)(M), 464(c)(2)(A)) to add a new loan deferment category for public school teachers.
Policy Domains
Whole Bill - Teacher Loan Forgiveness Enhancement
Identified Gains
- Public elementary and secondary schools
- Public school teachers with undergraduate student loans
- Public school teachers with student loans
- U.S. Department of Education
- Public school teachers applying for loan forgiveness
Identified Costs
- Federal government (taxpayers)
- U.S. Department of Education
- Internal Revenue Service
- Federal student loan holders and servicers
Sponsors
Legislative Progress
IntroducedMr. Fields introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Public elementary and secondary schools, Public school teachers applying for loan forgiveness, Public school teachers with student loans
Department of Education, Federal government (taxpayers), Internal Revenue Service
Department of Education faces effects in multiple directions
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → Secretary of Education (for loan forgiveness provisions); Secretary of the Treasury (for tax disclosure provisions in Section 4)
Note: 'The Secretary' refers to the Secretary of Education in Sections 2 and 3 (loan forgiveness and deferment) but refers to the Secretary of the Treasury in Section 4 (tax return information disclosure).
Key Definitions
Terms defined in this bill
Any loan made, insured, or guaranteed under Part B, Part D, or Part E of the Higher Education Act that is attributable to an undergraduate course or program of study.
A teacher at an elementary or secondary school that is operated by a State, local government, or the Bureau of Indian Education.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology