US Codex
Bill
Notes

Teacher Loan Forgiveness Improvement Act of 2020

H.R. 6825 · 116th Congress · May 12, 2020 · Lineage

A BILL

To increase the amount of loan forgiveness available to teachers.

Section 1 Short title

This Act may be cited as the “Teacher Loan Forgiveness Improvement Act of 2020”.

Sec. 2 Increased loan forgiveness for teachers

Section 428J(c) of the Higher Education Act of 1965 (20 U.S.C. 1078–10(c)) is amended—
(1)
in paragraph (1), by striking “$5,000” and inserting “$15,000”; and
(2)
in paragraph (3), by striking “$17,500” and inserting “$30,000”.

Sec. 3 Increased loan cancellation for teachers

Section 460(c) of the Higher Education Act of 1965 (20 U.S.C. 1087j(c)) is amended—
(1)
in paragraph (1), by striking “$5,000” and inserting “$15,000”; and
(2)
in paragraph (3), by striking “$17,500” and inserting “$30,000”.

Sec. 4 Application of amendments

The amendments made by this Act shall apply with respect to any borrower who completes the fifth complete school year of teaching required for loan forgiveness under section 428J(b) of the Higher Education Act of 1965 (20 U.S.C. 1078–10(b)), or for loan cancellation under section 460(b) of such Act (20 U.S.C. 1087j(b)), on or after the date of enactment of this Act.