STRIVE Act

Supporting the Teaching profession through Revitalizing Investments in Valuable Educators Act or the STRIVE Act This bill amends the Higher Education Act of 1965 to provide qualifying teachers with a new, incremental loan-cancellation program. Specifically, with respect to a 12-month period, the Department of Education (ED) must cancel a specified portion of a borrower's qualifying Federal Direct Loan Program loans if the borrower: (1) has made 12 consecutive on-time monthly payments, (2) is employed in a qualifying teaching position at the time of such cancellation, and (3) was employed in a qualifying teaching position during the period in which the borrower made the 12 payments. After a borrower has received such partial loan cancellation for a specified number of years, ED must cancel the borrower's eligible loans in full. The bill also: increases and extends funding for teacher training; makes changes to the Teacher Education Assistance for College and Higher Education grant program, including by increasing annual award amounts and making early childhood teachers eligible for such grants; requires ED to award grants to states to subsidize teacher certification and licensing fees for low-income individuals who have entered the teaching profession; expands the teacher quality partnership grant program to include early childhood educators; and increases the tax deduction for school expenses and extends the deduction to early childhood educators.