09/11/2024 | Press release | Distributed by Public on 09/11/2024 14:15
WASHINGTON, D.C. - Today, Reps. Joe Courtney (D-CT) and Dusty Johnson (R-SD) reintroduced bipartisan legislation to help servicemembers access student debt relief through the Public Service Loan Forgiveness program (PSLF).
Currently, if an eligible servicemember enrolled in PSLF chooses to put their loans into deferment or forbearance during a deployment, those periods do not count as PSLF-qualifying payments. This means servicemembers need to exceed the required 10 years of service before qualifying for student loan forgiveness. Without Congressional action, servicemembers will not only carry debt for a longer than fair period but may be dissuaded from attaining a degree.
"There are no public servants more deserving of our gratitude and support than our servicemembers, especially those deployed around the globe, far away from their families," Courtney said. "Our troops and their families deserve the full benefit of student loan forgiveness that they've earned while serving, and this bill will help them get it. I look forward to working with Congressman Johnson to deliver the resources that our servicemembers deserve."
"Serving your country in our nation's armed forces is the ultimate form of public service," said Johnson. "Our bill ensures our deployed servicemembers are given access to the full benefits of the Public Service Loan Forgiveness program. Military enrollment numbers have been down in recent years, and we should continue to incentivize service in our nation's military, not make it harder for men and women to serve."
TheRecognizing Military Service in PSLF Act would:
The Recognizing Military Service in PSLF Act has been endorsed by Psych Armor, Veterans of Foreign Wars, Military Order of the Purple Heart, Vietnam Veterans of America, Military Officers Association of America (MOAA), Elizabeth Dole Foundation, and the National Military Family Association.
Today's action builds on Rep. Courtney's work to improve and expand the Public Service Loan Forgiveness program. In 2022, Courtney led legislation to make permanent the improvements to the PSLF program under the Biden Administration, and would implement other commonsense reforms to help America's public servants lower the cost of higher education.
To read a fact sheet on this bill, click here.