# Student Loan Accountability Act: What It Actually Does

This bill would prevent the federal government from canceling or forgiving student loans on a large scale. Specifically, it stops the Secretary of Education, Secretary of the Treasury, and Attorney General from wiping away student loan debt for groups of borrowers, unless Congress passes a new law allowing it. The bill essentially locks in the rules that existed on March 12, 2020, and says that any new loan forgiveness programs would need explicit approval from Congress rather than being created through executive action.

The main exception is that existing targeted forgiveness programs—like loan forgiveness for teachers, public servants, or people with disabilities—would still be allowed to continue. These are specific programs that were already on the books before this bill, so they wouldn't be affected. However, any broad cancellation efforts, like forgiving a certain amount of debt for all borrowers or for borrowers who meet general income requirements, would be prohibited.

The bill's supporters argue that mass loan cancellation isn't fair to people who already paid off their loans or who didn't go to college, since taxpayers would ultimately cover the cost. Critics counter that targeted relief could help struggling borrowers and that the executive branch should have flexibility to address economic hardship. The practical effect would be that any major student loan forgiveness program would require Congress to pass new legislation rather than allowing the President to act alone through executive authority.

Student Loan Accountability Act

DesJarlais, Scott

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 March 12, 2020, and carried out under the Higher Education Act of 1965.