| Title: |
Federal Student Loan Forgiveness and Loan Repayment Programs. CRS Report R43571, Version 17. Updated |
| Language: |
English |
| Authors: |
Alexandra Hegji; Elayne J. Heisler; Sylvia L. Bryan; Library of Congress, Congressional Research Service (CRS) |
| Source: |
Congressional Research Service. 2024. |
| Availability: |
Congressional Research Service. Web site: https://crsreports.congress.gov/ |
| Peer Reviewed: |
N |
| Page Count: |
101 |
| Publication Date: |
2024 |
| Intended Audience: |
Policymakers |
| Document Type: |
Reports - Descriptive |
| Education Level: |
Higher Education; Postsecondary Education |
| Descriptors: |
Student Loan Programs; Federal Aid; Federal Programs; Loan Repayment; Educational Finance; Student Financial Aid; Public Service; Higher Education; Federal Legislation; Educational Legislation; Eligibility; Economic Factors |
| Laws, Policies and Program Identifiers: |
National Defense Education Act |
| Abstract: |
Service-contingent student loan forgiveness and loan repayment programs enable borrowers to have all or part of their student loan debt forgiven or repaid in exchange for work or service in specific fields or professions. In both loan forgiveness and loan repayment programs, borrowers typically qualify for benefits by working or serving in certain capacities for a specified period. Upon qualifying for benefits, some or all of a borrower's student loan debt is forgiven or paid on their behalf. The number and availability of loan forgiveness and loan repayment programs have expanded considerably since the establishment of the first major federal loan forgiveness program by the National Defense Education Act of 1958. Currently, over 40 such programs are authorized at the federal level, approximately 30 of which were operational on October 1, 2021, or became operational sometime thereafter. While existing loan forgiveness and loan repayment programs may support similar broader goals, there is great variety across programs in their design and scope. Some programs are widely available to all borrowers who meet program eligibility criteria. However, many programs are narrowly focused on supporting specific public service or workforce needs and are available only to individuals serving in certain occupations or working in certain geographic regions, or individuals employed by certain federal agencies. Programs are also distinguished by types of loans that qualify for forgiveness or repayment, qualifying periods of service, the amount of debt that may be discharged, and the tax treatment of discharged indebtedness. Congress may explore whether loan forgiveness and loan repayment programs are effectively achieving policy objectives. Several issues might be examined. This report identifies and describes service-contingent federal student loan forgiveness and loan repayment programs that are currently authorized by federal law. It provides brief, summary descriptions of identified programs. These program descriptions are intended to provide policymakers with general information about the purpose of existing programs and how they are designed to operate. |
| Abstractor: |
ERIC |
| Entry Date: |
2025 |
| Accession Number: |
ED671157 |
| Database: |
ERIC |