Debt Cancellation Accountability Act of 2023
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Debt Cancellation Accountability Act of 2023
This bill prohibits the Department of Education from providing class-based loan forgiveness unless funds have been specifically requested and appropriated for this purpose. Class-based loan forgiveness refers to the cancellation, waiver, assumption, discharge, reduction, or other forgiveness of any obligation due on Federal Family Education Loans, Federal Direct Loans, or Federal Perkins Loans (1) on a class-wide basis and for a class of two or more loan borrowers, and (2) that totals more than $1 million.
The prohibition does not apply to targeted loan forgiveness programs explicitly established under the Higher Education Act of 1965 and in effect before January 1, 2022, if the loan forgiveness is granted for a single borrower on a case-by-case basis.
Referred to the House Committee on Education and the Workforce.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 509: Debt Cancellation Accountability Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-509/
"H.R. 509: Debt Cancellation Accountability Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-509/.
H.R. 509, 118th Cong. (2026), https://openamerica.io/bill/118-HR-509/.
[H.R. 509: Debt Cancellation Accountability Act of 2023](https://openamerica.io/bill/118-HR-509/)