Energy Education Loan Forgiveness Act of 2010 - Amends the Higher Education Act of 1965 to authorize the Secretary of Education to provide student loan forgiveness under the Federal Family Education Loan, Direct Loan, and Perkins Loans programs to individuals who have been employed for at least one year after this Act's enactment as full-time skilled energy workers in advanced energy industries.
Limits the maximum amount of such loan forgiveness to $2,000 after the first year of a skilled energy worker's employment, with incremental increases after each of the following four years, reaching $5,000 of the loan obligation of the borrower outstanding after the completion of the fifth year.
Includes as advanced energy industries those involved in: (1) alternative energy; (2) nuclear energy; (3) energy efficient construction, retrofitting, and design; (4) sustainable energy technologies; (5) water and energy conservation; (6) recycling and waste reduction; (7) advanced agriculture; (8) carbon sequestration and storage; (9) natural gas drilling; and (10) clean coal production.
[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4736 Introduced in House (IH)]
111th CONGRESS
2d Session
H. R. 4736
To amend the Higher Education Act of 1965 to authorize student loan
forgiveness for certain individuals employed in advanced energy
professions.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 3, 2010
Mr. Wilson of Ohio introduced the following bill; which was referred to
the Committee on Education and Labor
_______________________________________________________________________
A BILL
To amend the Higher Education Act of 1965 to authorize student loan
forgiveness for certain individuals employed in advanced energy
professions.
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 ``Energy Education Loan Forgiveness
Act of 2010''.
SEC. 2. ENERGY EDUCATION LOAN FORGIVENESS.
Part B of title IV of the Higher Education Act of 1965 (20 U.S.C.
1070 et seq.) is amended by inserting after section 428L the following
new section:
``SEC. 428M. ENERGY EDUCATION LOAN FORGIVENESS.
``(a) Purpose.--The purposes of this section are--
``(1) to encourage individuals to enter and continue in
advanced energy professions; and
``(2) to reward such individuals for their service in
advanced energy professions by reducing the burden of student
loan debt.
``(b) Program Authorized.--
``(1) Loan forgiveness authorized.--The Secretary is
authorized to forgive, in accordance with this section, the
student loan obligation of a borrower, in the amount specified
in subsection (c), who--
``(A) has been employed for at least one calendar
year after the date of enactment of the Energy
Education Loan Forgiveness Act of 2010 as a full-time
skilled energy worker trained in an industry that
focuses on advanced energy (as defined in subsection
(f)); and
``(B) is not in default on a loan for which the
borrower seeks forgiveness.
``(2) Method of loan forgiveness.--To provide loan
forgiveness under paragraph (1), the Secretary is authorized to
carry out a program--
``(A) through the holder of the loan, to assume the
obligation to repay a qualified loan amount for a loan
made, insured, or guaranteed under this part (other
than an excepted PLUS loan (as such term is defined in
section 493C(a))); and
``(B) to cancel a qualified loan amount for a loan
made under part D or part E of this title (other than
such an excepted PLUS loan).
``(c) Qualified Loan Amount.--The Secretary shall, from funds
appropriated under subsection (h), forgive the loan obligation of a
borrower in accordance with this section and in the following
increments:
``(1) After the first calendar year of employment described
in subsection (b)(1), not more than $2,000 of the loan
obligation of the borrower that is outstanding after the
completion of such calendar year.
``(2) After the second such year of employment, not more
than $2,500 of the loan obligation of the borrower that is
outstanding after the completion of such year.
``(3) After the third such year of employment, not more
than $3,000 of the loan obligation of the borrower that is
outstanding after the completion of such year.
``(4) After the fourth such year of employment, not more
than $4,500 of the loan obligation of the borrower that is
outstanding after the completion of such year.
``(5) After the fifth such year of employment, not more
than $5,000 of the loan obligation of the borrower that is
outstanding after the completion of such year.
``(d) Priority.--The Secretary shall grant loan forgiveness under
this section on a first-come, first-served basis, and subject to the
availability of appropriations.
``(e) Ineligibility for Double Benefits.--No borrower may, for the
same service, receive a reduction of loan obligations under both this
section and section 428K or 455(m).
``(f) Definitions.--In this section:
``(1) Advanced energy.--The term `advanced energy' shall
have the meaning given such term by the Secretary pursuant to
subsection (g).
``(2) Industry that focuses on advanced energy.--The term
`industry that focuses on advanced energy' means an industry
the primary purpose of which is to develop, produce, and
distribute advanced energy (as defined by the Secretary in
accordance with subsection (g)), and includes the following
industries:
``(A) Alternative energy, including wind and solar
energy.
``(B) Nuclear energy.
``(C) Energy efficient construction, retrofitting,
and design.
``(D) Sustainable energy technologies, including
chemical technology, nanotechnology, and electrical
technology.
``(E) Water and energy conservation.
``(F) Recycling and waste reduction.
``(G) Advanced agriculture and farming.
``(H) Carbon sequestration and storage.
``(I) Natural gas drilling.
``(J) Clean coal production.
``(3) Skilled energy worked.--The term `skilled energy
worker' shall have the meaning given such term by the Secretary
pursuant to subsection (g).
``(g) Regulations.--
``(1) In general.--The Secretary is authorized to issue
such regulations as may be necessary to carry out this section.
``(2) Consultation with secretary of energy.--The Secretary
shall coordinate with the Secretary of Energy to promulgate
regulations to define, for the purpose of awarding loan
forgiveness under this section, the term `advanced energy', the
term `skilled energy worker', and each of the categories of
industries that focus on advanced energy that are listed under
subsection (f)(2).
``(h) Authorization of Appropriations.--There are authorized to be
appropriated to carry out this section such sums as may be necessary
for fiscal year 2011 and each of the 5 succeeding fiscal years.''.
<all>
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR H1033-1034)
Referred to the House Committee on Education and Labor.
Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.
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