Teacher Loan Forgiveness Improvement Act of 2022
This bill modifies the Teacher Loan Forgiveness program by increasing the amount of loan forgiveness available for certain qualified teachers who have federal student loans. The program provides loan forgiveness for teachers who are highly qualified, teach full-time in a low-income school or educational service agency, and complete five years of consecutive service.
Specifically, the bill increases from $5,000 to $15,000 the amount of available loan forgiveness for an elementary or secondary school teacher in any subject.
It also increases from $17,500 to $30,000 the amount of available loan forgiveness for a secondary school math or science teacher and for a special education teacher.
To increase the amount of loan forgiveness available to teachers.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Teacher Loan Forgiveness Improvement 
Act of 2022''.

SEC. 2. INCREASED LOAN FORGIVENESS FOR TEACHERS.

    Section 428J(c) of the Higher Education Act of 1965 (20 U.S.C. 
1078-10(c)) is amended--
            (1) in paragraph (1), by striking ``$5,000'' and inserting 
        ``$15,000''; and
            (2) in paragraph (3), by striking ``$17,500'' and inserting 
        ``$30,000''.

SEC. 3. INCREASED LOAN CANCELLATION FOR TEACHERS.

    Section 460(c) of the Higher Education Act of 1965 (20 U.S.C. 
1087j(c)) is amended--
            (1) in paragraph (1), by striking ``$5,000'' and inserting 
        ``$15,000''; and
            (2) in paragraph (3), by striking ``$17,500'' and inserting 
        ``$30,000''.

SEC. 4. APPLICATION OF AMENDMENTS.

    The amendments made by this Act shall apply with respect to any 
borrower who completes the fifth complete school year of teaching 
required for loan forgiveness under section 428J(b) of the Higher 
Education Act of 1965 (20 U.S.C. 1078-10(b)), or for loan cancellation 
under section 460(b) of such Act (20 U.S.C. 1087j(b)), on or after the 
date of enactment of this Act.
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Teacher Loan Forgiveness Improvement Act of 2022
A bill to increase the amount of loan forgiveness available to teachers.
Teacher Loan Forgiveness Improvement Act of 2022
Sen. Whitehouse, Sheldon