Skip to main content
S 72 118th Congress Senate Education

Debt Cancellation Accountability Act of 2023

Introduced: January 25, 2023 Introduced by: Scott, Rick Republican · Florida See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 25, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Jan 25, 2023
Introduced in Senate
 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

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

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3