S. 72 · 118th Congress
Debt Cancellation Accountability Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ScottSponsor4 cosponsors · 4 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill prohibits the Department of Education from providing class-based loan forgiveness unless funds have been specifically requested and appropriated for this purpose.
What it does: CRS summary · Introduced in Senate · Jan 25, 2023
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Debt Cancellation Accountability Act of 2023
Latest action (Jan 25, 2023): Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy area: Education · Origin: Senate · Introduced: Jan 25, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.