Education for Jobs Act

Education for Jobs Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to make an individual eligible to apply for a loan under the William D. Ford Federal Direct Loan program if that individual: (1) is carrying at least three credit hours or the equivalent coursework for the course of study the individual is pursuing, (2) is enrolled in an educational program leading to a degree or certificate, and (3) was employed on a full-time basis for at least 10 years.

It makes those students eligible for interest subsidies. It requires the repayment period for such a loan to begin the day after six months after the student ceases to meet the loan eligibility requirements.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4495 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 4495

   To amend the Higher Education Act of 1965 to provide student loan 
eligibility for mid-career, part-time students, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 8, 2016

Ms. Michelle Lujan Grisham of New Mexico (for herself, Mr. Vargas, and 
 Mr. Kilmer) introduced the following bill; which was referred to the 
                Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
   To amend the Higher Education Act of 1965 to provide student loan 
eligibility for mid-career, part-time students, and for other purposes.

    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 ``Education for Jobs Act''.

SEC. 2. STUDENT LOAN ELIGIBILITY FOR MID-CAREER PART-TIME STUDENTS.

    (a) Student Eligibility.--Section 484(b) of the Higher Education 
Act of 1965 (20 U.S.C. 1091) is amended--
            (1) by redesignating paragraph (5) as paragraph (6); and
            (2) by inserting after paragraph (4) the following:
    ``(5) A student who--
            ``(A) is carrying at least 3 credit hours or the equivalent 
        coursework for the course of study that the student is 
        pursuing, as determined by the eligible institution,
            ``(B) is enrolled in a course of study necessary for 
        enrollment in a program leading to a degree or certificate, and
            ``(C) was employed on a full-time basis for not less than 
        10 years,
shall be, notwithstanding paragraph (1) of subsection (a), eligible to 
apply for loans under part D of this title.''.
    (b) Annual and Aggregate Loan Limits.--Section 428(b)(1)(A) of the 
Higher Education Act of 1965 (20 U.S.C. 1078(b)(1)(A)) is amended by 
inserting ``or meets the requirements of section 484(b)(5)'' after 
``institution)''.
    (c) Repayment Period.--
            (1) Stafford loans.--Section 428(b)(7)(A) of the Higher 
        Education Act of 1965 (20 U.S.C. 1078(b)(7)(A)) is amended by 
        inserting before the period at the end the following: ``or, in 
        the case of a student described in section 484(b)(5), the day 
        after 6 months after the date such student ceases to meet the 
        requirements of such section''.
            (2) PLUS loans.--Section 428B(d)(1)(B)(ii) of the Higher 
        Education Act of 1965 (20 U.S.C. 1078-2(d)(1)(B)(ii)) is 
        amended by inserting before the period at the end the 
        following: ``or, in the case of a graduate or professional 
        student borrower described in section 484(b)(5), during the 6-
        month period beginning on the day after the date such student 
        ceases to meet the requirements of such section''.
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