Tribal Colleges and Universities Faculty Loan Forgiveness Act

The Tribal Colleges and Universities Faculty Loan Forgiveness Act (S. 731) would establish a federal program to cancel up to $15,000 in student loan debt for individuals who work as full-time faculty members at tribal colleges or universities. Under this proposal, eligible educators would have a percentage of their federal student loans forgiven for each year of service, reaching total forgiveness after five years of employment. Additionally, the bill extends loan repayment assistance to nursing instructors at these institutions and ensures that any debt canceled under the program is not treated as taxable income.