H.R. 4258 — Student Loan Forgiveness Act of 2000

Summary

Student Loan Forgiveness Act of 2000 - Title I: Student Loan Forgiveness for Teachers - Amends the Higher Education Act of 1965 to revise provisions for student loan forgiveness for teachers under the Federal Family Loan Program. Provides for such forgiveness for borrowers employed as full-time teachers in public elementary or secondary schools. Directs the Secretary of Education to repay, for each year of four years of such teaching service, up to one-fourth of the aggregate loan obligation outstanding at the beginning of the first year of service, so that the entire obligation is repaid at the end of such four years.

Amends the Internal Revenue Code (IRC) to provide that such student loan forgiveness shall not be included in an individual's gross income for income tax purposes.

Title II: Tax Credits for Teaching - Amends IRC to provide a tax credit of $1,000 for public elementary and secondary school teachers. Reduces the amount of such credit in cases of student loan forgiveness for teachers.

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Legislative Actions

2000-04-12
Introduced in House
2000-04-12
Introduced in House
2000-04-12
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2000-04-12
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2000-04-12
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2000-06-12
Referred to the Subcommittee on Postsecondary Education, Training and Life-Long Learning.

Student Loan Forgiveness Act of 2000

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