S 4342
117th Congress
Senate
Education
ASAP Forgiveness Act
Introduced: May 26, 2022
Introduced by:
Whitehouse, Sheldon
Democratic
· Rhode Island
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 26, 2022
Introduced in Senate
May 26, 2022
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Plain-English summary
Affording Students A Path to Forgiveness Act or the ASAP Forgiveness Act
This bill requires the Department of Education to cancel up to $30,000 of interest and principal due on any eligible Federal Direct Loan that is in repayment status for a borrower who (1) has made 60 monthly payments on the loan pursuant to any authorized repayment plan, and (2) has been employed for 10 years after graduating from or leaving the institution of higher education (IHE) for which the loan was made to enable the borrower to enroll at the IHE.
What's happening now
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Committees of jurisdiction
1