This bill ensures that members of the National Guard and Reserve components of the Armed Forces receive credit toward federal student loan forgiveness for their military service. Currently, these part-time service members struggle to qualify for Public Service Loan Forgiveness because they don't work full-time in traditional public service jobs. The legislation allows Reserve and Guard members to count months of their military service as qualifying payments toward loan forgiveness based on their years of service—up to 12 months per year for full-service years or up to 6 months for partial-service years. The Departments of Defense and Education must coordinate a data-matching process within one year and annually thereafter to automatically identify eligible borrowers and count their qualifying payments without requiring them to take additional action. This change would help service members in the Reserve and Guard components access the same loan forgiveness benefits as their active-duty counterparts and other public service workers.
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