H.R. 9065 – Student Loan Earned Relief Act

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Updated February 8, 2026 at 6:02 PM UTC

The Student Loan Earned Relief Act amends the Higher Education Act to expand the Public Service Loan Forgiveness (PSLF) program. It shortens the qualifying payment period to 60 payments, reduces the required payment to 50% of the loan balance, and provides partial loan cancellation plus refunds of interest paid after each 60‑payment segment. It also makes the temporary PSLF waiver permanent and removes related application and consolidation deadlines. The changes affect borrowers with federal Direct Loans who work in qualifying public service jobs.

Key Provisions

Reduces the PSLF qualifying payment requirement from 120 to 60 payments and lowers the required payment to 50% of the balance of interest and principal due.
After the first 60 qualifying payments, cancels 50% of the remaining loan balance and refunds the interest the borrower paid during that period.
After the second 60 qualifying payments, cancels the remaining loan balance and refunds the interest paid during the second period.
Makes the limited PSLF waiver program permanent and eliminates the application and consolidation deadlines for these provisions.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Education and Labor.

Education and Workforce Committee

September 29, 2022

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HouseIntro Referral

Introduced in House

September 29, 2022

HouseIntro Referral

Referred to the House Committee on Education and Labor.

Education and Workforce Committee

September 29, 2022

Bill Text

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Introduced in HouseIssued September 29, 2022

I

117th CONGRESS

2d Session

H. R. 9065

IN THE HOUSE OF REPRESENTATIVES

September 29, 2022

Mr. McNerney 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 provide interest relief under the public service loan forgiveness program, and for other purposes.

1.

Short title

This Act may be cited as the Student Loan Earned Relief Act.

2.

PSLF

(a)

Reduction of payment

Section 455(m)(1) of the Higher Education Act of 1965 (20 U.S.C. 1087e(m)(1)) is amended—

(1)

in the matter preceding subparagraph (A), by striking the balance of interest and principal due and inserting 50 percent of the balance of interest and principal due;

(2)

in subparagraph (A), by striking 120 and inserting 60; and

(3)

in subparagraph (B)(ii), by striking 120 and inserting 60.

(b)

Loan cancellation amount; payment of interest accrued

Paragraph (2) of section 455(m) of the Higher Education Act of 1965 (20 U.S.C. 1087e(m)(2)) is amended to read as follows:

(2)

Loan cancellation amount; payment of interest accrued

(A)

First employment period

After the conclusion of the first employment period described in paragraph (1) during which the borrower has made the first 60 payments described in such paragraph, the Secretary shall—

(i)

cancel 50 percent of the obligation to repay the balance of principal and interest due as of the time of such cancellation, on the eligible Federal Direct Loans made to the borrower under this part; and

(ii)

provide the borrower an amount equal to the amount of interest that the borrower has paid on such loans during such first employment period.

(B)

Second employment period

After the conclusion of the second employment period described in paragraph (1) during which the borrower has made the second 60 payments described in such paragraph, the Secretary shall—

(i)

cancel any remaining obligation to repay the balance of principal and interest due as of the time of such cancellation, on the eligible Federal Direct Loans made to the borrower under this part; and

(ii)

provide the borrower an amount equal to the amount of interest that the borrower has paid on such loans during such second employment period.

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(c)

Codifying the Limited PSLF waivers

Section 455(m) of the Higher Education Act of 1965 (20 U.S.C. 1087e(m)), as amended by this Act, is further amended by adding at the end the following:

(5)

Permanently restoring the promise of PSLF

Notwithstanding any other provision of this subsection, the Secretary shall carry out this subsection in a manner consistent with the terms and conditions of the Limited PSLF Waiver program carried out by the Department beginning on October 6, 2021, and authorized by the Higher Education Relief Opportunities for Students Act of 2003 (20 U.S.C. 1098aa et seq.), except that the application and consolidation deadlines for such program shall not apply to the provisions of this subsection.

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