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Federal Student Loan Debt Cancellation: Relief for Millions

This resolution calls on the U.S. President to broadly cancel up to $50,000 in federal student loan debt per borrower. The aim is to provide financial relief to millions of families, especially those most in need, and to stimulate the economy. This action also seeks to address racial and economic inequalities exacerbated by student debt.
Key points
Proposes canceling up to $50,000 in federal student loan debt per borrower, potentially benefiting 43 million Americans.
Aims to boost the economy by increasing consumer spending and reducing financial burdens.
Emphasizes helping minority communities disproportionately affected by student loan debt.
Urges the President to ensure that debt cancellation does not create new tax liabilities for borrowers.
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Expired
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Additional Information
Print number: 117_HRES_100
Sponsor: Rep. Pressley, Ayanna [D-MA-7]
Process start date: 2021-02-04
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Calling on the President of the United States to take executive action to broadly cancel Federal student loan debt.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HRES_100.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-04.

What are the main provisions?

Key points include:

  • Proposes canceling up to $50,000 in federal student loan debt per borrower, potentially benefiting 43 million Americans.
  • Aims to boost the economy by increasing consumer spending and reducing financial burdens.
  • Emphasizes helping minority communities disproportionately affected by student loan debt.
  • Urges the President to ensure that debt cancellation does not create new tax liabilities for borrowers.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Pressley, Ayanna [D-MA-7].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Education Economy Benefits