H.R.687 - Teacher Recruitment and Retention Act of 2001107th Congress (2001-2002)
Summary: H.R.687 — 107th Congress (2001-2002)
Teacher Recruitment and Retention Act of 2001 - Amends the Higher Education Act of 1965 to revise student guaranteed and direct loan forgiveness programs for teachers.
Introduced in House (02/14/2001)
Extends program eligibility to any borrower by eliminating requirements allowing only certain new borrowers to participate.
Expands eligible teaching locations and subjects.
Eliminates a service requirement that an individual teach at least five consecutive complete school years before being eligible for program benefits.
Increases from $5,000 to $10,000 the aggregate amount of an individual teacher's student loan obligation which may be forgiven, and revises the rate of repayment.