Becerra #4
Preserves the language currently in H.R. 438 that expands to $17,500 the Stafford cancellation amount available to math, science and special education teachers, while adding certain librarians to the list of other occupations under current law who receive forgiveness under the direct and indirect Stafford programs and Perkins loan programs. A librarian working full-time in a public library that serves a geographic area with combined average of 40 percent of enrolled students at the poverty level, or in an elementary or secondary school library that is eligible for Title I assistance would qualify for the following levels of loan cancellation based on number of years of service: 15% of Perkins in the first or second years, 20% of Perkins in the third or fourth years, 30% of Perkins in the fifth year, and $5,000 (total) of direct and indirect Stafford after five years of service.

Becerra #5
A librarian working full-time in a public library that serves a geographic area with combined average of 40 percent of enrolled students at the poverty level, or in an elementary or secondary school library that is eligible for Title I assistance would qualify for the following levels of loan cancellation based on number of years of service: 15% of Perkins in the first or second years, 20% of Perkins in the third or fourth years, 30% of Perkins in the fifth year.

Becerra #6
A librarian working full-time in a public library that serves a geographic area with combined average of 40 percent of enrolled students at the poverty level, or in an elementary or secondary school library that is eligible for Title I assistance would qualify for the following levels of loan cancellation based on number of years of service: $5,000 (total) of direct and indirect Stafford after five years of service.

Inslee # 7
Amendment in the Nature of a Substitute. Establishes new programs for teacher student loan forgiveness, under the guaranteed loan program and the direct loan program. Requires three consecutive complete school years of full-time teaching in a public elementary or secondary school as : (1) a secondary school teacher of a subject area relevant to the borrower?s academic major; or (2) an elementary school teacher who has demonstrated knowledge and teaching skills in reading, writing, mathematics, and other curriculum areas. Amends the Internal Revenue Code to exclude from a teacher?s gross income any student loan amounts discharged under both the current HEA programs and those added by this Act.

Inslee #8
Ensures that any loan or portion of a loan discharged under the bill will not count as gross income for that individual?s income tax purposes.

Inslee #9
Removes the requirement that teachers receiving additional loan forgiveness must be teachers of math, science or special education.

Jackson-Lee #11
Adds to the list of qualification criteria for FFEL loan forgiveness teachers who have attended Historically Black Colleges and Universities and those serving large portions of Hispanics, Native Americans, Asian-Pacific Americans, or other underrepresented populations to pursue continuous teaching careers.

Kind #1
Expands teacher eligibility for $17,500 in loan forgiveness to teachers in rural schools who are new borrowers in October 2003.

Miller, George (CA)/Boehner #2
Expands teacher eligibility for $17,500 in loan forgiveness to reading teachers who have obtained a separate State credential in reading.

Payne #3
Expands teacher eligibility for $17,500 in loan forgiveness for all Title I teachers and increase the poverty percentage of a school to 65% at which a teacher who is receiving loan forgiveness must teach.

Tierney #10
Expands teacher eligibility for $17,500 in loan forgiveness to Head Start teachers, Early Head Start teachers and pre-kindergarten teachers in programs that serve children of which at least 60% of whom are eligible to participate in Head Start of Early Head Start program. Only new borrowers as of FY03 would be eligible for this loan forgiveness.

* Summaries derived from information submitted by the amendment sponsors.