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H.R. 2034 117th Congress House

Income-Driven Student Loan Forgiveness Act

Official title: To direct the Secretary of Education to forgive the Federal student loans of borrowers meeting certain income requirements, and for other purposes.

Introduced: March 18, 2021 See on congress.gov
Education Government information and archivesGovernment lending and loan guaranteesHigher educationIncome tax exclusion
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Interest, dividends, interest ratesStudent aid and college costsUser charges and feesWages and earnings
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 18, 2021
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.
Mar 18, 2021
Introduced in House
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 Latest action March 18, 2021

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.

 Plain-English summary Congressional Research Service

Income-Driven Student Loan Forgiveness Act

This bill requires the Department of Education (ED) to forgive the outstanding balance of principal, interest, and fees due on federal student loans for eligible borrowers who meet certain income requirements.

Eligible borrower refers to an individual who (1) has an eligible federal student loan in repayment, (2) filed a federal income tax return for the most recent tax year, (3) is employed or was employed during the three-year period immediately preceding March 1, 2020, and (4) meets income requirements (e.g., an adjusted gross income of $100,000 or less for a borrower who is not married). Further, the borrower must submit an application to ED for loan forgiveness.

The bill prohibits borrowers from receiving refunds for any previously made payments.

Further, the bill specifies the notification requirements related to the availability of loan forgiveness.

The bill also excludes discharged student loan debt from an individual's gross income for tax purposes.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 2034: Income-Driven Student Loan Forgiveness Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-2034/
MLA
"H.R. 2034: Income-Driven Student Loan Forgiveness Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-2034/.
Bluebook (legal)
H.R. 2034, 117th Cong. (2026), https://openamerica.io/bill/117-HR-2034/.
Markdown link
[H.R. 2034: Income-Driven Student Loan Forgiveness Act](https://openamerica.io/bill/117-HR-2034/)
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