What This Bill Does
This bill prevents Members of Congress from receiving student loan cancellation benefits. The bill blocks them from getting loan cancellation during or after their service in Congress.
Who It Affects
Members of Congress (people serving in the Senate or House of Representatives).
Key Provisions
• Members of Congress cannot receive student loan cancellation for time they served as a Member of Congress, either during or after their service ends (Sec. 2(a)(1))
• Members of Congress cannot receive student loan cancellation from any federal student loan program that Congress creates or changes through a law, or that the President or a federal agency creates or changes through executive order or agency action, while they are serving as a Member (Sec. 2(a)(2))
What Changes
If this bill becomes law, Members of Congress become ineligible for certain types of student loan cancellation that other Americans may be eligible for. The restriction applies to anyone who serves as a Member of Congress on or after the date the law takes effect (Sec. 2(c)).
Important Definitions
• "Cancellation" means when the federal government cancels, forgives or takes over the obligation to repay someone's student loan debt (Sec. 2(b)(2))
• "Student loan" means any loan made to someone for education expenses at a college or university, including loans made to parents on behalf of dependent students (Sec. 2(b)(3))
Effective Date
Not specified in bill text
I
118TH CONGRESS
1ST SESSION H. R. 1234
To prohibit Members of Congress from receiving a financial benefit from
certain student loan cancellation programs.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 28, 2023
Mr. COLE (for himself, Mr. BABIN, Mrs. BICE, Mr. BOST, Mr. BURGESS, Mr.
CALVERT, Mr. GUTHRIE, Mrs. HINSON, Mr. JOHNSON of South Dakota,
Ms. LETLOW, Mr. NORMAN, Mr. RESCHENTHALER, Ms. VAN DUYNE, Mr.
WOMACK, Mr. CAREY, and Mr. CLOUD) introduced the following bill;
which was referred to the Committee on Education and the Workforce
A BILL
To prohibit Members of Congress from receiving a financial
benefit from certain student loan cancellation programs.
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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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Can’t Cancel Your
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Own Debt Act of 2023’’.
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•HR 1234 IH
SEC. 2. NO STUDENT LOAN CANCELLATION FOR MEMBERS
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OF CONGRESS.
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(a) IN GENERAL.—Notwithstanding any other provi-
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sion of law, an individual who serves as a Member of Con-
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gress shall not be eligible, during or after such service—
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(1) for any service- or employment-based stu-
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dent loan cancellation for any time served as a Mem-
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ber of Congress; or
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(2) for student loan cancellation from any Fed-
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eral program that is established or amended by an
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Act of Congress, or established or set forth by an
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Executive order or agency action, during the period
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in which the individual is serving as a Member.
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(b) DEFINITIONS.—For the purposes of this Act—
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(1) AGENCY ACTION.—The term ‘‘agency ac-
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tion’’ has the meaning given such term in section
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551 of title 5, United States Code.
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(2) CANCELLATION.—The term ‘‘cancellation’’
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means cancellation, forgiveness, or assumption of the
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obligation to repay the student loan debt of an indi-
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vidual by the Federal Government.
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(3) STUDENT LOAN.—The term ‘‘student loan’’
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means any loan made to an individual (including a
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loan made to a parent on behalf of a dependent stu-
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dent) for expenses related to attendance or enroll-
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ment at an institution of higher education.
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•HR 1234 IH
(c) APPLICATION.—This Act shall apply to any indi-
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vidual who serves as a Member of Congress on or after
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the date of enactment of this Act.
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Æ
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