HR 509 118th Congress House Education

Debt Cancellation Accountability Act of 2023

Introduced: January 25, 2023 Introduced by: Davidson, Warren Republican · Ohio See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jan 25, 2023

Referred to the House Committee on Education and the Workforce.

Jan 25, 2023

Introduced in House

Plain-English summary Congressional Research Service

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.

What's happening now January 25, 2023

Referred to the House Committee on Education and the Workforce.

Committees of jurisdiction 1