Student Loan Accountability Act: No Mass Forgiveness, Targeted Programs Remain
This bill aims to prohibit the government from broadly canceling student loans. If you have a student loan, this means you cannot expect a large-scale, automatic forgiveness. The bill states that such actions lack legal authority and are unfair to taxpayers who paid their loans or did not attend college.
Key points
The government will not be able to cancel your student loans on a mass scale.
Existing, targeted loan forgiveness programs in effect before March 12, 2020, are exempt.
Any new changes to student loan repayment must be explicitly approved by Congress.
Expired
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