The bill would make some parent PLUS loans eligible for PSLF forgiveness, and make the program more flexible. Image: zimmytws/Shutterstock.com
A newly offered Senate bill (S-4581) would expand eligibility the Public Service Loan Forgiveness program and make it easier to claim benefits under that program.
That program allows for forgiveness of the balance remaining under certain federal student loan programs by federal employees and employees of other levels of government who have remained current on their monthly payments for 10 years. It is separate from an internal federal government-only recruitment and retention incentive program allowing agencies to pay employees up to $10,000 yearly, and up to $60,000 lifetime, for paying off student loans.
The bill would: allow for public servants with loans or public service before 2007 to qualify; replace the 120-payment requirement with only a requirement for 10 years of public service employment; expand beyond October 31, 2022 certain flexibilities the Biden administration has ordered; specify that borrowers or parents covered by a parent PLUS loan may qualify for PSLF forgiveness based on their public service; and define the required full-time employment as only 30 hours per week or more.
Also offered was S-4655, a bipartisan bill to extend to FBI employees the standard rights to challenge alleged whistleblower retaliation to the MSPB, a policy that sponsors said already applies to employees of “nearly every other federal law enforcement agency.” The bill would keep the current internal adjudication process for initial claims but would grant that right to outside appeal if that process results in a decision adverse to the employee, or if it did not result in a decision within 180 days of the filing.
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See also,
House Republicans Revive Retirement Benefit-Cutting Proposals
Retiring from a Federal Job – Getting Started
Retiring from a Federal Job: Make Sure Your Agency Gets it Right