HR 4797 · 117th Congress · Education

Student Loan Relief Act

Introduced 2021-07-29· Sponsored by Rep. Carter, Troy [D-LA-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2021-07-29)

Plain Language Summary

[AI summary unavailable — showing source text] Student Loan Relief Act This bill establishes a program to discharge certain federal student loan debt. Specifically, the bill requires the Department of Education (ED) to automatically discharge (i.e., repay or cancel) up to $50,000 of outstanding student loan debt for each borrower. Members of Congress are not eligible to receive loan discharges. Further, the bill outlines the method of loan discharge and excludes the loan discharges from taxable income. In addition, the bill requires ED to automatically place each federal student loan borrower in administrative forbearance for the one-year period in which ED carries out the discharge of student loans. During this period, payments are not due, interest does not accrue, and ED may not pursue debt collection activities (e.g., wage garnishments).…

Summarized by Claude AI · Non-partisan · For informational purposes only