Section 1 Short title
This Act may be cited as the “Education for Jobs Act”.
Education for Jobs Act
A BILL
To amend the Higher Education Act of 1965 to provide student loan eligibility for mid-career, part-time students, and for other purposes.
Sec. 2 Student loan eligibility for mid-career part-time students
Student eligibility— Section 484(b) of the Higher Education Act of 1965 (20 U.S.C. 1091) is amended—
by redesignating paragraph (5) as paragraph (6); and
by inserting after paragraph (4) the following:
“(5) A student who—
“(A) is carrying at least 3 credit hours or the equivalent coursework for the course of study that the student is pursuing, as determined by the eligible institution,
“(B) is enrolled in a course of study necessary for enrollment in a program leading to a degree or certificate, and
“(C) was employed on a full-time basis for not less than 10 years,”
Annual and aggregate loan limits— Section 428(b)(1)(A) of the Higher Education Act of 1965 (20 U.S.C. 1078(b)(1)(A)) is amended by inserting “or meets the requirements of section 484(b)(5)” after “institution)”.
Repayment period—
Stafford loans— Section 428(b)(7)(A) of the Higher Education Act of 1965 (20 U.S.C. 1078(b)(7)(A)) is amended by inserting before the period at the end the following: “or, in the case of a student described in section 484(b)(5), the day after 6 months after the date such student ceases to meet the requirements of such section”.
PLUS loans— Section 428B(d)(1)(B)(ii) of the Higher Education Act of 1965 (20 U.S.C. 1078–2(d)(1)(B)(ii)) is amended by inserting before the period at the end the following: “or, in the case of a graduate or professional student borrower described in section 484(b)(5), during the 6-month period beginning on the day after the date such student ceases to meet the requirements of such section”.