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Congress Must Approve Mass Student Loan Forgiveness Funding

This Act restricts the Government's ability to cancel large amounts of federal student loans for groups of people (over $1 million) without explicit appropriation of funds by Congress. This means that future, broad student debt relief programs will require a formal legislative process. Existing, targeted, case-by-case loan forgiveness programs established before January 1, 2022, remain unaffected.
Key points
Prohibits the Department of Education from granting class-based student loan forgiveness (over $1 million for 2 or more borrowers) unless Congress specifically appropriates funds for that purpose.
Any request for class-based forgiveness must be submitted to Congress with detailed justification, including the total amount and the legal authority used.
Existing targeted loan forgiveness programs established before January 1, 2022, based on individual applications and case-by-case determination, are exempt from this restriction.
If Congress fails to appropriate funds for a forgiveness request during the fiscal year, the request expires and must be resubmitted.
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Additional Information
Print number: 118_S_72
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2023-01-25
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Debt Cancellation Accountability Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_72.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-01-25.

What are the main provisions?

Key points include:

  • Prohibits the Department of Education from granting class-based student loan forgiveness (over $1 million for 2 or more borrowers) unless Congress specifically appropriates funds for that purpose.
  • Any request for class-based forgiveness must be submitted to Congress with detailed justification, including the total amount and the legal authority used.
  • Existing targeted loan forgiveness programs established before January 1, 2022, based on individual applications and case-by-case determination, are exempt from this restriction.
  • If Congress fails to appropriate funds for a forgiveness request during the fiscal year, the request expires and must be resubmitted.
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 Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

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