,i  #aagth ,,congress  #b;d ,session    
,h4 ,r4 #ijfe  ,,in ,,the ,,house ,,of  
,,representatives  ,september #bi1      
#bjbb,mr4 ,mc,nerney introduced the     
following bill2 which was referred to   
the ,committee on ,education and ,labor 
,a ,,bill  ,to amend the ,higher        
,education ,act of #aife to provide     
interest relief under the public service
 loan forgiveness program1 and for other
 purposes4  #a4 ,short title ,this ,act 
may be cited as the ,student ,loan      
,earned ,relief ,act4  #b4 ,,pslf  7a7  
,reduction of payment ,section          
#dee7m77#a7 of the ,higher ,education   
,act of #aife 7#bj ,u4,s4,c4            
#ajhg;e7m77#a77 is amended-- 7#a7 in the
 matter preceding subparagraph 7,a71 by 
striking the balance of interest and    
principal due and inserting #ej percent 
of the balance of interest and principal
 due2  7#b7 in subparagraph 7,a71 by    
striking #abj and inserting #fj2 and    
7#c7 in subparagraph 7,b77ii71 by       
striking #abj and inserting #fj4  7b7   

,loan cancellation amount2 payment of   
interest accrued ,paragraph 7#b7 of     
section #dee7m7 of the ,higher          
,education ,act of #aife 7#bj ,u4,s4,c4 
#ajhg;e7m77#b77 is amended to read as   
follows3  7#b7 ,loan cancellation       
amount2 payment of interest accrued     
7,a7 ,first employment period ,after the
 conclusion of the first employment     
period described in paragraph 7#a7      
during which the borrower has made the  
first #fj payments described in such    
paragraph1 the ,secretary shall-- 7i7   
cancel #ej percent of the obligation to 
repay the balance of principal and      
interest due as of the time of such     
cancellation1 on the eligible ,federal  
,direct ,loans made to the borrower     
under this part2 and  7ii7 provide the  
borrower an amount equal to the amount  
of interest that the borrower has paid  
on such loans during such first         
employment period4  7,b7 ,second        
employment period ,after the conclusion 
of the second employment period         

described in paragraph 7#a7 during which
 the borrower has made the second #fj   
payments described in such paragraph1   
the ,secretary shall-- 7i7 cancel any   
remaining obligation to repay the       
balance of principal and interest due as
 of the time of such cancellation1 on   
the eligible ,federal ,direct ,loans    
made to the borrower under this part2   
and  7ii7 provide the borrower an amount
 equal to the amount of interest that   
the borrower has paid on such loans     
during such second employment period4  4
  7c7 ,codifying the ,limited ,,pslf    
waivers ,section #dee7m7 of the ,higher 
,education ,act of #aife 7#bj ,u4,s4,c4 
#ajhg;e7m771 as amended by this ,act1 is
 further amended by adding at the end   
the following3  7#e7 ,permanently       
restoring the promise of ,,pslf         
,notwithstanding any other provision of 
this subsection1 the ,secretary shall   
carry out this subsection in a manner   
consistent with the terms and conditions
 of the ,limited ,,pslf ,waiver program 

carried out by the ,department beginning
 on ,october #f1 #bjba1 and authorized  
by the ,higher ,education ,relief       
,opportunities for ,students ,act of    
#bjjc 7#bj ,u4,s4,c4 #ajih;aa et seq471 
except that the application and         
consolidation deadlines for such program
 shall not apply to the provisions of   
this subsection4  4