LIBRARIAN Act of 2007 introduced

The Librarian Incentive to Boost Recruitment and Retention in Areas of Need (LIBRARIAN) Act of 2007 was introduced in both the U.S. Senate (S. 1121) and the House of Representatives (H.R. 1877) yesterday.
Its aim is to increase incentives for new librarians to work in low-income schools and public libraries by forgiving Perkins student loans. Here’s the skinny from the text of the bill:

Specifically, the LIBRARIAN Act allows Federal Perkins loan
cancellation for full-time librarians with a master’s degree in library
sciences who are employed in: a public library that serves a geographic
area that contains one or more schools eligible for educationally
disadvantaged school funding under Title I; or an elementary or
secondary school library that is eligible for educationally
disadvantaged school funding under Title 1.
Librarians working full-time in these areas would qualify for up to
100 percent Federal Perkins loan forgiveness depending on their years
of service as a librarian in the disadvantaged schools or public
libraries. Specifically, they would qualify for: 15 percent loan
forgiveness for each of the first and second years of such service; 20
percent loan forgiveness for each of the third and fourth years of such
service; and 30 percent loan forgiveness for the fifth year of such
service.