The nation’s roughly 5.5 million Hidden Heroes, who currently serve as caregivers for wounded, ill or injured United States military veterans, would be treated like other public servants who qualify for federal student loan forgiveness under a bipartisan bill proposed by U.S. Rep. Mike Turner (R-OH).
“By easing their financial burden, my bipartisan legislation would finally thank Hidden Heroes for their dedicated service to our veteran community,” said Rep. Turner.
The congressman on May 4 signed on as the original cosponsor of the Military and Veteran Caregiver Student Loan Relief Act, H.R. 2968, with bill sponsor U.S. Rep. Gerald Connolly (D-VA).
If enacted, the bill would amend the Higher Education Act of 1965 to include service as a veteran family caregiver as a public service job for purposes of the Public Service Loan Forgiveness (PSLF) Program, according to the text of the bill. The PSLF Program forgives the remaining balance on direct loans after an individual has made 120 monthly payments under a qualifying repayment plan while working full-time for a qualifying employer, which include a U.S. federal, state, local, or tribal government or not-for-profit organization.
“Over five million individuals selflessly serve as caregivers to our nation’s veterans, yet, unlike other public servants, these heroes are currently not eligible for student loan forgiveness,” said Rep. Turner, citing data from a 2014 Rand Corp. study. “The Military and Veteran Caregiver Student Loan Relief Act would allow these heroes to qualify for relief through the PSLF Program.”
H.R. 2968 is supported by numerous organizations, including the Elizabeth Dole Foundation, the American Red Cross, Blue Star Families, Disabled American Veterans, the Military Family Advisory Network, the Military Officers Association of America, the Rosalynn Carter Institute, and Wounded Warrior Project, among others.
“Crippling student loan debt has a significant impact on our nation’s military and veteran caregivers, who often cut back or stop working completely to provide care for their wounded warriors,” said Steve Schwab, CEO of the Elizabeth Dole Foundation. “By including military caregivers in the Public Service Loan Forgiveness Program, our nation is finally able to thank these individuals for their service and significantly reduce the financial burden on their families.”