Student Loan Accountability Act
118th Congress: Senate Bill No. 4815
Introduced on July 25, 2024
July 25, 2024 Referred to a Committee
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Summary
Student Loan Accountability Act
This bill generally prohibits the Departments of Education, Justice, or the Treasury from taking any action to cancel or forgive the outstanding balances, or portion of balances, of covered loans. Covered loans refer to Federal Family Education Loans, Federal Direct Loans, Federal Perkins Loans, and loans under the Health Education Assistance Loan Program.
The prohibition does not apply to targeted federal student loan forgiveness, cancellation, or repayment programs that are in effect by final regulation on May 11, 2022, and carried out under the Higher Education Act of 1965.
Timeline
July 25, 2024SenateIntroduced
July 25, 2024SenateReferred to a Committee