What This Bill Does
This bill prohibits the federal government from canceling or forgiving student loans on a large scale. The bill is called the "Student Loan Accountability Act" and creates a legal barrier against broad student loan forgiveness programs.
Who It Affects
The Secretary of Education, the Secretary of the Treasury and the Attorney General are directly restricted by this bill. Student loan borrowers are affected because the bill limits their access to loan cancellation programs.
Key Provisions
• The Secretary of Education, Secretary of the Treasury and Attorney General cannot take action to cancel or forgive the outstanding balances of federal student loans, with limited exceptions (Sec. 3(a)(1))
• The prohibition does not apply to targeted Federal student loan forgiveness programs that were operating under final regulations as of March 12, 2020 (Sec. 3(a)(2))
• Federal officials cannot create new regulations or take new actions that would modify, alter, amend, cancel, discharge, forgive or defer student loan repayment unless Congress passes new legislation explicitly allowing such action (Sec. 3(c))
What Changes
If this bill becomes law, federal officials would be legally prohibited from implementing broad student loan cancellation programs. Existing forgiveness programs that were in place on March 12, 2020 would continue to operate.
Important Definitions
The bill defines "covered loan" to mean federal student loans made under certain parts of the Higher Education Act of 1965 and loans under the Health Education Assistance Loan Program.
I
118TH CONGRESS
1ST SESSION H. R. 1211
To prohibit the mass cancellation of student loans.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 27, 2023
Mr. DESJARLAIS introduced the following bill; which was referred to the Com-
mittee on Education and the Workforce, and in addition to the Com-
mittee on Energy and Commerce, for a period to be subsequently deter-
mined by the Speaker, in each case for consideration of such provisions
as fall within the jurisdiction of the committee concerned
A BILL
To prohibit the mass cancellation of student loans.
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 ‘‘Student Loan Account-
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ability Act’’.
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SEC. 2. FINDINGS.
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Congress finds the following:
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(1) Statutory authority has not been provided
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to the executive branch of the Federal Government
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to cancel student loans on a mass scale.
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(2) It is unfair for taxpayers who paid student
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loans or did not attend college to pay for those who
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chose to take student loans.
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SEC. 3. PROHIBITION ON MASS CANCELLATION OF STU-
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DENT LOANS.
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(a) PROHIBITION.—
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(1) IN GENERAL.—Notwithstanding any other
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provision of law, the Secretary of Education, the
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Secretary of the Treasury, or the Attorney General
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shall not take any action to cancel or forgive the
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outstanding balances, or portion of balances, of cov-
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ered loans, except as provided in paragraph (2).
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(2) EXEMPTION.—The prohibition described in
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paragraph (1) shall not apply to targeted Federal
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student loan forgiveness, cancellation, or repayment
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programs carried out under the Higher Education
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Act of 1965 (20 U.S.C. 1001 et seq.), under final
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regulations as in effect on March 12, 2020.
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(b) DEFINITIONS.—In this section, the term ‘‘covered
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loan’’ means—
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(1) a loan made, insured, or guaranteed under
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part B, D, or E of title IV of the Higher Education
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Act of 1965 (20 U.S.C. 1071 et seq.; 1087a et seq.;
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1087aa et seq.) before, on, or after the date of en-
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actment of this Act; or
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(2) a loan under the Health Education Assist-
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ance Loan Program under title VII of the Public
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Health Service Act (42 U.S.C. 292 et seq.) made be-
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fore, on, or after the date of enactment of this Act.
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(c) LIMITATION.—The Secretary of Education, the
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Secretary of the Treasury, or the Attorney General may
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not implement, or publish in any form, any regulation, or
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take any action, that modifies, alters, amends, cancels,
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discharges, forgives, or defers the repayment of any stu-
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dent debt not expressly permitted within statute or regula-
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tion as in effect on March 12, 2020, regarding covered
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loans, except to the extent that such regulation or action
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reflects the clear and unequivocal intent of Congress in
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legislation.
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Æ
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