California House of Representative's member Ami Bera helping children in Sacramento planting as a part of his oath to serve the district.
Federal lawmaker Ami Bera, a U.S. House member representing California, announced a new bill, H.R. 1392, designed to reduce student loan debt and increase the federal technology workforce according to a press release from the Democratic Representative.
The TechCorps Bill, the official dub for the bill, will offer incentives to top STEM graduates, encouraging them to accept federal jobs by offering debt forgiveness. Eligible participants would agree to hold government cyber and information technology positions for a minimum of two years. In exchange, these graduates would receive up to four years of loan forgiveness.
The amount of loan forgiveness depends on the amount of time an eligible graduate pledges to work for the government, with a commitment of two years receiving forgiveness on 50 percent of a current loan. And an additional one to two years would be eligible for an additional 25 percent of forgiveness, to a maximum of $31,000.
Rep. Bera seems to have more than just his Californian constituency in mind. Many students in the United States would benefit greatly from the proposition. On average, graduates leave school with roughly $28,000 in student debt according to The Student Loan Report. Contrarily, graduates from California schools owe around $13,000 on average, considerably less than the national average.
Not only will this bill serve to ease student borrowers’ student debt woes, but it will also fill critical jobs in national security that are going unfilled. The federal government has considerable trouble “attract[ing] and attain[ing] the necessary talent,” said Bera. This is mainly due to more attractive offers from the private sector, but a student loan forgiveness incentive may turn out to be the solution to some degree.
Image Copyright © Ami Bera