IMPROVEMENTS TO THE EDUCATION DEBT REDUCTION PROGRAM.

SEC. 301. IMPROVEMENTS TO THE EDUCATION DEBT REDUCTION PROGRAM.(a) Inclusion of Employee Retention as Purpose of Program.—Section 7681(a)(2) is amended by inserting “and retention” after “recruitment” the first time it appears.(b) Expansion of Eligibility.—Section 7682 is amended—(1) in subsection (a)(1), by striking “a recently appointed” and inserting “an”; and(2) by striking subsection (c).(c) Increase in Maximum Annual Amount of Payments.—Paragraph (1) of subsection (d) of section 7683 is amended—(1) by striking “$44,000” and inserting “$60,000”; and(2) by striking “$10,000” and inserting “$12,000”.(d) Exception to Limitation on Amount for Certain Participants.—Such subsection is further amended by adding at the end the following new paragraph:“(3)(A) The Secretary may waive the limitations under paragraphs (1) and (2) in the case of a participant described in subparagraph (B). In the case of such a waiver, the total amount of education debt repayments payable to that participant is the total amount of the principal and the interest on the participant’s loans referred to in subsection (a).“(B) A participant described in this subparagraph is a participant in the Program who the Secretary determines serves in a position for which there is a shortage of qualified employees by reason of either the location or the requirements of the position.”.