Supporting the Teaching profession through Revitalizing Investments in Valuable Educators Act or the STRIVE Act
This bill provides qualifying teachers with a new, incremental loan-cancellation program.
Specifically, with respect to a 12-month period, the Department of Education (ED) must cancel a specified portion of a borrower's qualifying Federal Direct Loan program loans if the borrower (1) has made 12 consecutive on-time monthly payments, (2) is employed in a qualifying teaching position at the time of such cancellation, and (3) was employed in a qualifying teaching position during the period in which the borrower made the 12 payments. After a borrower has received such partial loan cancellation for a specified number of years, ED must cancel the borrower's eligible loans in full.
The bill also
increases and extends funding for teacher training; establishes grants for mentoring and professional development; makes changes to the Teacher Education Assistance for College and Higher Education grant program, including by making early childhood teachers eligible for such grants; requires ED to award grants to institutions of higher education to subsidize teacher certification and licensing fees for low-income individuals who have accepted a teaching position; expands the Teacher Quality Partnership grant program to include early childhood educators; and expands the centers for excellence grant program to include early childhood educators and school leaders.
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