Promoting Apprenticeships in Public Service Act

“493E. Apprenticeship loan forgiveness program

“(a) Program authorized—Not later than 30 days after applying for the loan forgiveness under this section, the Secretary shall repay or cancel the qualifying loan amount described in subsection (b) of any borrower who—

“(1) receives a certificate from a registered apprenticeship program; and

“(2) completes 2 years of full-time employment at a qualifying public service job.

“(b) Qualifying loan amount—The qualifying loan amount described in this subsection is, with respect to the loan obligations of a borrower on all loans made under part B or D, the lesser of the following:

“(1) The amount due on such loans on the date of such repayment or cancellation.

“(2) $25,000.

“(c) Definitions—In this section:

“(1) Apprenticeship—The term apprenticeship means an apprenticeship registered under the Act of August 16, 1937 (commonly known as the “National Apprenticeship Act”; 50 Stat. 664, chapter 663; 29 U.S.C. 50 et seq.).

“(2) Qualifying public service job—The term qualifying public service job means a job at—

“(A) a Federal, State, or local government agency, or tribal organization; or

“(B) an organization that is described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code.

“(d) Ineligibility for double benefits—No borrower may, for the same service, receive a reduction of loan obligations under both this section and section 455(m), 428J, 428K, 428L, or 460.”