,,ii #aacth ,,congress #ast ,session ,s4 #ddj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #d1 #bjac ,mr4 ,reid 7for ,mr4 ,begich7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,a ,,bill ,to amend the ,higher ,education ,act of #aife to provide for loan forgiveness for early childhood educators1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,preparing and ,reinvesting in ,early ,education ,act of #bjac or ,,pre ,,ed ,act of #bjac4 #b4 ,expanding ,,ffel loan forgiveness program to early childhood educators ,section #dbh;,j of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgh-aj7 is amended-- 7#a7 in the section heading1 by inserting early childhood educators and elementary and secondary school before teachers2 7#b7 by striking subsection 7b7 and inserting the following3 7b7 ,program authorized ,the ,secretary shall carry out a program1 through the holder of the loan1 of assuming the obligation to repay a qualified loan amount for a loan made under section #dbh or #dbh;,h1 in accordance with subsection 7c71 for any borrower who-- 7#a7 7,a7 is a new borrower on or after ,october #a1 #aiih1 and has been employed as a full-time teacher for #e consecutive complete school years-- 7i7 in a school or location that qualifies under section #dfe7;a77#b77;,a7 for loan cancellation for ,perkins loan recipients who teach in such schools or locations2 and 7ii7 if employed as an elementary school or secondary school teacher1 is highly qualified as defined in section #iaja of the ,elementary ,secondary ,education ,act of #aife1 or meets the requirements of subsection 7g77#c72 or 7,b7 7i7 has been employed as a full-time early childhood educator at an early childhood program for #e consecutive complete school years or a comparable period1 as determined by the ,secretary2 and 7ii7 obtained an associate degree or baccalaureate degree in early childhood education from an institution of higher education prior to the beginning of the period described in clause 7i72 and 7#b7 is not in default on a loan for which the borrower seeks forgiveness4 2 7#c7 by striking paragraph 7#a7 of subsection 7c7 and inserting the following3 7#a7 ,in general 7,a7 ,aggregate amounts ,of the loan obligation on a loan made under section #dbh or #dbh;,h that is outstanding after the completion of the fifth complete school year of teaching described in subsection 7b77#a7 or comparable period 7in accordance with subsection 7b77#a77;,b77i771 the ,secretary shall repay not more than-- 7i7 #e1jjj in the aggregate for a borrower described in subsection 7b77#a77;,a71 except as provided in paragraph 7#c72 and 7ii7 #be1jjj in the aggregate for a borrower described in subsection 7b77#a77;,b74 7,b7 ,interaction with direct loan program ,no borrower may receive a reduction of loan obligations under both this section and section #dfj4 2 and 7#d7 in subsection 7g7-- 7,a7 in paragraph 7#a77;,a71 by striking 7b77#a77;,a7 and inserting 7b77#a77;,a77i72 and 7,b7 in paragraph 7#c71 by striking 7b77#a77;,b7 and inserting 7b77#a77;,a77ii74 #c4 ,expanding ,federal ,direct ,loan cancellation program to early childhood educators ,section #dfj of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;j7 is amended-- 7#a7 in the section heading1 by inserting early childhood educators and elementary and secondary school before teachers2 7#b7 by striking subsection 7b7 and inserting the following3 7b7 ,program authorized ,the ,secretary shall carry out a program of canceling the obligation to repay a qualified loan amount in accordance with subsection 7c7 for ,federal ,direct ,stafford ,loans and ,federal ,direct ,unsubsidized ,stafford ,loans made under this part for any borrower who-- 7#a7 7,a7 is a new borrower on or after ,october #a1 #aiih and has been employed as a full-time teacher for #e consecutive complete school years-- 7i7 in a school or location that qualifies under section #dfe7;a77#b77;,a7 for loan cancellation for ,perkins loan recipients who teach in such schools or locations2 and 7ii7 if employed as an elementary school or secondary school teacher1 is highly qualified as defined in section #iaja of the ,elementary ,secondary ,education ,act of #aife1 or meets the requirements of subsection 7g77#c72 or 7,b7 7i7 has been employed as a full-time early childhood educator at an early childhood program for #e consecutive complete school years or a comparable period1 as determined by the ,secretary2 and 7ii7 obtained an associate degree or baccalaureate degree in early childhood education from an institution of higher education prior to the beginning of the period described in clause 7i72 and 7#b7 is not in default on a loan for which the borrower seeks forgiveness4 2 7#c7 by striking paragraph 7#a7 of subsection 7c7 and inserting the following3 7#a7 ,in general 7,a7 ,aggregate amounts ,of the loan obligation on a ,federal ,direct ,stafford ,loan or a ,federal ,direct ,unsubsidized ,stafford ,loan that is outstanding after the completion of the fifth complete school year of teaching described in subsection 7b77#a7 or comparable period 7in accordance with subsection 7b77#a77;,b77i771 the ,secretary shall cancel not more than-- 7i7 #e1jjj in the aggregate for a borrower described in subsection 7b77#a77;,a71 except as provided in paragraph 7#c72 and 7ii7 #be1jjj in the aggregate for a borrower described in subsection 7b77#a77;,b74 7,b7 ,interaction with ,,ffel program ,no borrower may receive a reduction of loan obligations under both this section and section #dbh;,j4 2 and 7#d7 in subsection 7g7-- 7,a7 in paragraph 7#a77;,a71 by striking 7b77#a77;,a7 and inserting 7b77#a77;,a77i72 and 7,b7 in paragraph 7#c71 by striking 7b77#a77;,b7 and inserting 7b77#a77;,a77ii74 #d4 ,amendment to loan forgiveness for service in areas of national need program ,section #dbh,k7g77#c77;,c7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgh-aa7;g77#c77;,c77 is amended by inserting an associate degree in early childhood education or before a baccalaureate4