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HR 4797 117th Congress House Education

Student Loan Relief Act

Introduced: July 29, 2021 Introduced by: Carter, Troy A. Democratic · Louisiana 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
Jul 29, 2021
Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and the Judiciary, 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.
Jul 29, 2021
Introduced in House
 Plain-English summary Congressional Research Service

Student Loan Relief Act

This bill establishes a program to discharge certain federal student loan debt.

Specifically, the bill requires the Department of Education (ED) to automatically discharge (i.e., repay or cancel) up to $50,000 of outstanding student loan debt for each borrower. Members of Congress are not eligible to receive loan discharges.

Further, the bill outlines the method of loan discharge and excludes the loan discharges from taxable income.

In addition, the bill requires ED to automatically place each federal student loan borrower in administrative forbearance for the one-year period in which ED carries out the discharge of student loans. During this period, payments are not due, interest does not accrue, and ED may not pursue debt collection activities (e.g., wage garnishments).

What's happening now July 29, 2021

Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and the Judiciary, 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 3