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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.

Senate Actions

IntroReferral
Jul. 25 2024	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Library of Congress Actions

IntroReferral
Jul. 25 2024	Introduced in Senate

Senate bill S4815-118

Student Loan Accountability Act

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