[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7457 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 7457

To direct the Secretary of Education to count months during which Peace 
 Corps volunteers and AmeriCorps members have eligible Federal Direct 
Loans in deferment or forbearance toward eligibility for public service 
               loan forgiveness, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 26, 2024

  Mr. Garamendi (for himself, Mr. Lynch, Ms. Norton, Ms. Lofgren, Mr. 
  Carson, Ms. Moore of Wisconsin, Mr. Trone, and Ms. Garcia of Texas) 
 introduced the following bill; which was referred to the Committee on 
                      Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
To direct the Secretary of Education to count months during which Peace 
 Corps volunteers and AmeriCorps members have eligible Federal Direct 
Loans in deferment or forbearance toward eligibility for public service 
               loan forgiveness, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Peace Corps and AmeriCorps Student 
Loan Forgiveness Act''.

SEC. 2. DEFERMENT PERIODS FOR PEACE CORPS VOLUNTEERS AND AMERICORPS 
              MEMBERS COUNTED TOWARD PUBLIC SERVICE LOAN FORGIVENESS.

    (a) In General.--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) Treatment of certain periods of deferment or 
        forbearance.--
                    ``(A) In general.--Notwithstanding any other 
                provision of this subsection, each month of a period 
                described in subparagraph (B) with respect to a 
                borrower of an eligible Federal Direct Loan shall be 
                treated as if the borrower made a qualifying payment 
                under paragraph (1)(A) on such loan.
                    ``(B) Period described.--A period described in this 
                subparagraph is any period after October 1, 2007, 
                during which a borrower--
                            ``(i) owes an outstanding balance on an 
                        eligible Federal Direct Loan;
                            ``(ii) is in an authorized period of 
                        deferment or forbearance; and
                            ``(iii) serves--
                                    ``(I) as a Peace Corps volunteer or 
                                volunteer leader (as referred to in the 
                                Peace Corps Act (22 U.S.C. 2501 et 
                                seq.)); or
                                    ``(II) in an approved national 
                                service position (as defined in section 
                                101 of the National and Community 
                                Service Act of 1990 (42 U.S.C. 
                                12511)).''.
    (b) Consultation Requirement.--In implementing section 455(m)(2) of 
the Higher Education Act of 1965 (20 U.S.C. 1087e(m)(2)) (as amended by 
subsection (a) of this section) the Secretary of Education shall 
consult with--
            (1) the Director of the Peace Corps;
            (2) the Chief Executive Officer of the Corporation for 
        National and Community Service; and
            (3) borrowers who may be affected by the implementation of 
        such section, including current and former volunteers of the 
        Peace Corps and current and former AmeriCorps members.
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