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S 4253 United States Senate · 117th Congress

Student Loan Accountability Act

Summary
Student Loan Accountability Act This bill generally prohibits the Departments of Education, Justice, or the Treasury from taking any action to cancel or forgive the outstanding balances, or portion of balances, of covered loans. Covered loans refer to Federal Family Education Loans, Federal Direct Loans, Federal Perkins Loans, and loans under the Health Education Assistance Loan Program. The prohibition does not apply to targeted federal student loan forgiveness, cancellation, or repayment programs that are in effect by final regulation on May 11, 2022, and carried out under the Higher Education Act of 1965.
Issues: ✗ Budget & TaxesOpposes Budget & TaxesBill prohibits government spending on student loan forgiveness, restricting fiscal outlays related to loan cancellation programs.95% confidence ✗ EducationOpposes EducationBill prohibits student loan forgiveness, restricting financial relief for higher education access and limiting debt reduction options for students.85% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
May 2022
Committee Review
Floor Vote
President
Introduced May 18, 2022 Last action May 18, 2022
Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
May 18, 2022
Committee
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
upper
May 18, 2022
Introduced
Introduced in Senate
upper
1 primary · 4 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Mitt Romney
Mitt Romney
RRepublican
UT
n/a
Co
Photo of Bill Cassidy
Bill Cassidy
RRepublican
LA
n/a
Co
Photo of Richard Burr
Richard Burr
RRepublican
NC
n/a
Co
Photo of Thom Tillis
Thom Tillis
RRepublican
NC
n/a
Co
Photo of Tim Scott
Tim Scott
RRepublican
SC
n/a