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117TH CONGRESS
1ST SESSION H. R. 1981
To require the Comptroller General to submit a report on the transfer
of student debt functions from the Department of Education to the
Department of the Treasury, including costs of such a transfer and
the mitigation of the duplication of duties by Federal agencies, and
for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MARCH 17, 2021
Mr. MURPHY of North Carolina introduced the following bill; which was
referred to the Committee on Education and Labor
A BILL
To require the Comptroller General to submit a report on
the transfer of student debt functions from the Depart-
ment of Education to the Department of the Treasury,
including costs of such a transfer and the mitigation
of the duplication of duties by Federal agencies, and
for other purposes.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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•HR 1981 IH
SECTION 1. REPORT BY GAO ON TRANSFER OF FUNCTIONS
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OF THE OFFICE OF FEDERAL STUDENT AID
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TO THE DEPARTMENT OF TREASURY.
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(a) STUDY.—The Comptroller General of the United
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States shall conduct a study on the impact of transferring
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the functions, in whole or in part, of the Office of Federal
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Student Aid from the Department of Education to the De-
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partment of the Treasury, which shall include—
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(1) the potential impact of such transfer on the
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Federal Government, including—
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(A) any change in cost of administering
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the program; and
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(B) the duplication of duties by Federal
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agencies;
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(2) an analysis of how the responsibilities and
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operations of the Office of Federal Student Aid of
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the Department of Education overlaps with relevant
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responsibilities and operations at the Department of
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Treasury;
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(3) an analysis of whether the employees of the
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Department of Treasury possess the necessary ex-
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pertise and experience to manage and oversee the
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functions of the Office of Federal Student Aid of the
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Department of Education; and
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•HR 1981 IH
(4) the potential impact of such transfer on ad-
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ministrative costs and staff necessary for carrying
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out such functions.
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(b) CONSULTATION.—In conducting the study under
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subsection (a), the Comptroller General of the United
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States shall consult with stakeholders, including institu-
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tions of higher education, financial aid administrators,
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and existing entities that contract with the Office of Fed-
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eral Student Aid of the Department of Education, that
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may be impacted by the transfer studied under such sub-
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section.
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(c) REPORT.—Not later than 2 years after the date
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of the enactment of this Act, the Comptroller General of
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the United States shall complete the study under sub-
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section (a) and submit a report to the House Committee
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on Education and the Workforce and the Senate Com-
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mittee on Health, Education, Labor, and Pensions that
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includes the results of such study.
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