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To limit eligibility for public service loan forgiveness to borrowers of Federal student loans with incomes below a certain maximum threshold, and for other purposes.

H.R. 8098 · 117th Congress · Jun 16, 2022 · Lineage

A BILL

Section 1 Income limit for public service loan forgiveness

Section 455(m) of the Higher Education Act of 1965 (20 U.S.C. 1087e(m)) is amended—
(1)
by redesignating paragraphs (2) through (4) as paragraphs (3) through (5), respectively;
(2)
in paragraph (1), in the matter preceding subparagraph (A), by striking “paragraph (2)” and inserting “paragraph (3)”; and
(3)
by inserting after paragraph (1) the following:

“(2) Income limit—Notwithstanding any other provision of this subsection, a monthly payment made on an eligible Federal Direct Loan during any year in which the adjusted gross income of the borrower exceeds $173,000 shall not be counted for purposes of determining the number of qualifying payments made by the borrower under paragraph (1)(A).”