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Prohibition of Mass Student Loan Forgiveness and Tax Changes.

This act aims to prohibit the mass cancellation of student loans by the government. This means that individuals with student loans should not expect a general debt cancellation. The act also introduces changes to tax rules regarding loan forgiveness and restricts the sharing of tax data for loan cancellation purposes.
Key points
The government will not be able to mass cancel student loans, meaning most debtors will remain responsible for their obligations.
Existing, targeted federal student loan forgiveness or repayment programs are exempt from this prohibition.
Changes in tax law mean some forgiven student loans may become taxable again, and tax data cannot be used for mass loan cancellation purposes.
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Additional Information
Print number: 118_HR_1622
Sponsor: Rep. Ferguson, A. Drew, IV [R-GA-3]
Process start date: 2023-03-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Student Loan Accountability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1622.

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 2023-03-17.

What are the main provisions?

Key points include:

  • The government will not be able to mass cancel student loans, meaning most debtors will remain responsible for their obligations.
  • Existing, targeted federal student loan forgiveness or repayment programs are exempt from this prohibition.
  • Changes in tax law mean some forgiven student loans may become taxable again, and tax data cannot be used for mass loan cancellation purposes.
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. Ferguson, A. Drew, IV [R-GA-3].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Health.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Education Taxes