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HR 8514 116th Congress House Education Government lending and loan guarantees Higher education Income tax exclusion Interest, dividends, interest rates Student aid and college costs

Student Loan Relief Act

Introduced: October 2, 2020 Introduced by: Gonzalez, Vicente Democratic · Texas See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 2, 2020
Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Oct 2, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Student Loan Relief Act

This bill requires the Department of Education to cancel or repay up to $25,000 in outstanding student loan debt for each borrower. Further, the bill outlines the method of loan discharge and, for tax purposes, excludes loan cancellation or repayment from a borrower's gross income.

What's happening now October 2, 2020

Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 2