ASAP Forgiveness Act
Summary
Affording Students A Path to Forgiveness Act or the ASAP Forgiveness Act This bill requires the Department of Education to cancel up to $30,000 of interest and principal due on any eligible Federal Direct Loan that is in repayment status for a borrower who (1) has made 60 monthly payments on the loan pursuant to any authorized repayment plan, and (2) has been employed for 10 years after graduating from or leaving the institution of higher education (IHE) for which the loan was made to enable the borrower to enroll at the IHE.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2022
Committee Review
Floor Vote
President
Introduced May 26, 2022
Last action May 26, 2022
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
May 26, 2022
Committee
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
upper
May 26, 2022
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Sheldon Whitehouse
DDemocratic
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