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S 4342 117th Congress Senate Education

ASAP Forgiveness Act

Introduced: May 26, 2022 Introduced by: Whitehouse, Sheldon Democratic · Rhode Island See on congress.gov
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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
May 26, 2022
Introduced in Senate
May 26, 2022
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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 Plain-English summary Congressional Research Service

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 May 26, 2022

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4342: ASAP Forgiveness Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-4342/
MLA
"S. 4342: ASAP Forgiveness Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4342/.
Bluebook (legal)
S. 4342, 117th Cong. (2026), https://openamerica.io/bill/117-S-4342/.
Markdown link
[S. 4342: ASAP Forgiveness Act](https://openamerica.io/bill/117-S-4342/)
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