A dozen Democratic senators introduced a bill on Thursday to overhaul the popular but challenged Public Service Loan Forgiveness Program.
The legislation, the What You Can Do for Your Country Act, would dramatically expand the pool of student loan borrowers who are eligible to have their debt canceled.
Sens. Tim Kaine, D-Va., and Kirsten Gillibrand, D-N.Y., led the bill, and Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., are among the co-sponsors.
"The current Public Service Loan Forgiveness Program is a bureaucratic nightmare, and the Department of Education is failing to meet its obligation to help ease the student debt burden for our nation's public servants," Gillibrand said in a statement. Gilibrand is running for president in 2020, as are Warren and Sanders.
The current government program, signed into law by President George W. Bush in 2007, allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments.