To amend the Internal Revenue Code of 1986 to expand and enhance the HOPE and Lifetime Learning Credits, and to amend the Higher Education Act of 1965 to provide loan forgiveness opportunities for public service employees.
College Access and Affordability Act - Amends the Internal Revenue Code to: (1) increase to $4,000 the maximum amount of qualified tuition and related expenses eligible for the Hope Scholarship Credit and adjust such amount for inflation beginning in 2006; (2) increase to $58,000 the modified adjusted gross income threshold for determining reductions in the allowable amount of the Hope Scholarship Credit; and (3) increase from two to four the number of years a Hope Scholarship Credit may be claimed.
Amends the Higher Education Act of 1965 to provide for student loan forgiveness up to $20,000 for individuals in qualified public service positions who are not in default of their loan obligations. Defines "qualified public service positions" to include: (1) highly qualified teachers of mathematics, science, and bilingual and special education in low-income communities; (2) firefighters, police officers, or emergency medical technicians serving low-income communities; (3) nurses serving low-income communities; and (4) public or private child welfare workers.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
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.
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.
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.
Referred to the Subcommittee on 21st Century Competitiveness.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line