S 4253
Student Loan Accountability Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Student Loan Accountability Act, aims to prevent the federal government from broadly canceling or forgiving student loan debt. It specifically prohibits the Departments of Education, Treasury, and Justice from taking actions to cancel loans, except for existing, legally defined forgiveness programs in place as of May 11, 2022. The bill argues that the executive branch lacks the legal authority to unilaterally cancel student loans and seeks to ensure taxpayer fairness. It also restricts agencies from creating regulations that would alter existing student loan repayment terms without explicit Congressional authorization.
Sponsors
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Primary sponsor
Mitt Romney
Cosponsors
Richard Burr
Thomas Tillis
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