SERVICE Act

This bill makes several changes to the Public Service Loan Forgiveness program, which cancels federal student loan debt for people who work in public service jobs and make a certain number of monthly payments. It lowers the required number of monthly payments from 120 to 96, expands what counts as a qualifying payment, removes the rule that borrowers must still be working in a public service job when their loans are forgiven, and creates a process for borrowers to appeal if their application is denied. The bill also requires the Department of Education to set up an online tool to help borrowers track their loans and find public service jobs, allows teachers to use the same teaching experience to qualify for both the Teacher Loan Forgiveness program and the Public Service Loan Forgiveness program, and stops interest from being added to loan balances during certain pauses in payment.

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