Prohibition on Mass Student Loan Forgiveness
This bill aims to prevent the federal government from broadly canceling student loan debts. It means that individuals with student loans should not expect widespread forgiveness of their debts, except through existing, targeted assistance programs. The goal is to ensure taxpayers who paid their loans or did not attend college are not burdened by the cost of others' debt forgiveness.
Key points
The federal government will be prohibited from mass cancellation of student loans.
Existing, targeted student loan forgiveness programs in effect before March 12, 2020, will continue to operate.
The changes aim to protect taxpayers from the costs of widespread student debt forgiveness.
Status:
Expired
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