Legislative Tracker: Debt Forgiveness Programs & Cancellation
On this page, you'll find proposals relating to loan forgiveness programs or the cancellation of federal student loans.
H.R.1234 — Can’t Cancel Your Own Debt Act of 2023
Sponsor: Cole [Rep.-R-OK]
Introduced: 02/28/2023
NASFAA Summary & Analysis: This bill would prohibit members of Congress from benefiting from student loan cancellation programs that are enacted during their time in Congress. This applies to student loan cancellation programs established through executive order or agency action, or an Act of Congress. Members of Congress would also not be eligible to receive any service or employment-based student loan cancellation for the time they served in Congress.
H.R.1211 — Student Loan Accountability Act
Sponsor: DesJarlais [Rep.-R-TN]
Introduced: 02/27/2023
NASFAA Summary & Analysis: This bill would prohibit ED, the Secretary of the Treasury, or the Attorney General from taking action that would cancel or forgive student loan balances, with the exception of targeted federal student loan forgiveness and/or cancellation programs carried out under the HEA of 1965.
S.506 — Stop Reckless Student Loan Actions Act of 2023
Sponsor: Thune [Sen.-R-SD]
Introduced: 02/16/2023
NASFAA Summary & Analysis: This bill would limit some of the authority of the President during national emergencies related to higher education actions. The legislation would end the current student loan repayment pause, prohibit the president from canceling student loans due to a national emergency, suspend the Secretary of Education from pausing loan repayment for more than 90-consecutive days, as well as prohibit the Secretary from pausing repayment for households with annual incomes that exceed 400% of the federal poverty line.
H.R.380 — Federal Student Loan Integrity Act
Sponsor: Rep. Good [R-VA]
Introduced: 01/17/2023
NASFAA Summary & Analysis: This bill would prohibit the Secretary of Education from using the HEROES Act and a COVID-19-related national emergency declaration to forgive student loans or further extend the moratorium on loan payments.
H.R.509/S.72— Debt Cancellation Accountability Act of 2023
Sponsor: Rep. Davidson [R-OH] and Sen. Scot [R-FL]
Introduced: 01/25/2023
NASFAA Summary & Analysis: This bill would require that Congress appropriate funds in the case of class-based student loan forgiveness, and that the Secretary of Education provide proof in writing of necessity and legal authority to request such funds from Congress in order to forgive class-based loans.
Publication Date: 3/21/2023