A bill to provide for the partial cancellation or repayment of Perkins and Stafford loans for student borrowers who perform a year or more of full-time, low-paid service as Peace Corps and VISTA volunteers, and comparable full-time, low-paid service with a tax-exempt community service organization in the private sector.
National and Community Service Incentive Act of 1991 - Amends the Higher Education Act of 1965 to provide for partial cancellation or repayment of certain student loans for borrowers who perform a year or more of specified types of full-time, low-paid voluntary community service.
Revises the direct (Perkins) student loan program to provide for partial loan cancellation for full-time volunteer service (comparable to Peace Corps or VISTA service) with a tax-exempt organization. (Current law provides for partial cancellation for service in the Peace Corps or VISTA.)
Revises the guaranteed (Stafford) student loan program to provide for partial loan repayment for service in the Peace Corps or VISTA or for comparable full-time service as a volunteer with a tax-exempt organization.
Sets certain maximum compensation limitations as a requirement for specified deferments of Stafford and Perkins loans.
Referred to the Subcommittee on Postsecondary Education.
Introduced in Senate
Read twice and referred to the Committee on Labor and Human Resources.
Referred to Subcommittee on Education, Arts, Humanities.
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