To provide for loan forgiveness for STEM teachers, and for other purposes.
STEM K to Career Act
This bill provides for loan forgiveness and tax credits related to science, technology, engineering, or mathematics (STEM) education and addresses work-study for students employed in STEM fields.
The bill requires the Department of Education to forgive student loan obligations of borrowers employed as full-time teachers of STEM in elementary or secondary schools in which the number of low-income children exceeds a certain percentage. Portions of the student loan debt, including interest, shall be forgiven on the basis of years of service, with 100% forgiven for five years of teacher service.
The bill allows (1) an increased tax deduction for expenses of elementary and secondary school teachers for STEM education supplies; (2) a tax credit for the employment of STEM interns; and (3) a tax credit for employment of individuals who participated in an apprenticeship program in a STEM field, with the amount determined according to the degree of completion of the program.
Beginning with FY2020, an institution of higher education must use at least 7% of federal work-study funds to compensate students employed in STEM fields.
Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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 Labor, 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.
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