WeVote
Log In

Bill

Bill

HB 1950

Concerning the public service loan forgiveness program.

2023-2024 Regular Session Introduced by Lisa Callan and 18 co-sponsors

HB 1950 - Public Service Loan Forgiveness Program OverviewBill Number: HB 1950 Title: Concerning the public service loan forgiveness program Status: Effective date 6/6/2024Introd

Effective date 6/6/2024.
0
WeVote Research Nonpartisan
Bill Summary · HB 1950

HB 1950 - Public Service Loan Forgiveness Program

Overview

Bill Number: HB 1950
Title: Concerning the public service loan forgiveness program
Status: Effective date 6/6/2024
Introduced: January 17, 2025

Purpose and Intent

The primary goal of HB 1950 is to expand eligibility and streamline the application process for the Public Service Loan Forgiveness (PSLF) program. The bill aims to make the program more accessible to a wider range of public sector employees, ultimately helping to address the growing student debt crisis and support those who have dedicated their careers to public service.

Key Provisions

  • Expands the definition of "public service job" to include additional occupations such as non-profit workers, first responders, and certain government contractors
  • Requires the Department of Education to automatically enroll eligible borrowers in PSLF, rather than requiring them to submit a separate application
  • Eliminates the requirement for borrowers to make 120 qualifying monthly payments before applying for forgiveness
  • Directs the Department of Education to create a centralized database to track PSLF eligibility and application status for all borrowers
  • Provides additional funding for outreach and education to inform borrowers about the PSLF program and application process

Affected Parties and Impacts

HB 1950 would primarily benefit public sector employees with federal student loan debt, including teachers, social workers, government officials, and non-profit workers. By expanding eligibility and streamlining the application process, the bill aims to increase the number of borrowers who are able to have their remaining student loan balances forgiven after dedicating a significant portion of their careers to public service.

Procedural and Timeline Considerations

HB 1950 was introduced in the state legislature on January 17, 2025 and is currently in the committee review process. If passed, the bill would go into effect on June 6, 2024, providing the Department of Education with approximately 6 months to implement the necessary changes before the new provisions take effect.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.