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SERVE Act

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7/31/2013--Introduced. Support Educators and Reinvest in Valuable Education Act or the SERVE Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to increase, from $5,000 to $17,500, the amount of loan forgiveness available ...[more]

Sponsor

  • Rep. G. K. Butterfield [D, NC-1]

Cosponsors (21)

  • Rep. Karen Bass [D, CA-37]
  • Rep. Joyce Beatty [D, OH-3]
  • Rep. Sanford D. Bishop Jr. [D, GA-2]
  • Rep. Corrine Brown [D, FL-5]
  • Rep. AndrĂ© Carson [D, IN-7]
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Sponsor: Rep G.K. Butterfield (D-NC)

Summary:

  • Would increase, from $5,000 to $17,500, the amount of loan forgiveness available under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs to highly qualified teachers who have been employed at a low income school in the same local educational agency (LEA) for five consecutive complete school years.
  • Those low income schools would be required  to be schools: (1) at which more than 30% of the students are impoverished, and (2) located within the school district of an LEA that is eligible for school improvement funds under title I of the Elementary and Secondary Education Act of 1965.
  • PLUS loans under the FFEL and DL programs that are provided to the parents of dependent undergraduate students would be excepted from that loan forgiveness program.
 

Status:

7/31/13 – Introduced and referred to the Ed and Workforce Cmte.

9/13/13 – Referred to the Subcommittee on Higher Education and Workforce Training.