Pay Back Act

Pay Back Act

This bill 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 or otherwise modify the terms or conditions of covered loans unless expressly authorized by Congress. Covered loans refer to Federal Family Education Loans, Federal Direct Loans, Federal Perkins Loans, and loans under the Health Education Assistance Loan Program.

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4742 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4742

To prohibit the Secretary of Education, the Secretary of the Treasury, 
and the Attorney General from cancelling student loans, or changing any 
other terms or conditions on such loans, except as expressly authorized 
 by an Act of Congress enacted after the date of enactment of this Act.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 19, 2023

Mrs. McClain (for herself and Mr. Issa) introduced the following bill; 
which was referred to the Committee on Education and the Workforce, and 
in addition to the Committee on Energy and Commerce, 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

_______________________________________________________________________

                                 A BILL


 
To prohibit the Secretary of Education, the Secretary of the Treasury, 
and the Attorney General from cancelling student loans, or changing any 
other terms or conditions on such loans, except as expressly authorized 
 by an Act of Congress enacted after the date of enactment of this Act.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pay Back Act''.

SEC. 2. PROHIBITION ON MASS CANCELLATION OF STUDENT LOANS.

    (a) Prohibition.--Notwithstanding any other provision of law, the 
Secretary of Education, the Secretary of the Treasury, or the Attorney 
General shall not take any action to--
            (1) cancel or forgive the outstanding balances, or portion 
        of balances, on any covered loan; or
            (2) otherwise modify the terms or conditions of any covered 
        loan,
except as expressly authorized by an Act of Congress enacted after the 
date of enactment of this Act.
    (b) Definitions.--In this section, the term ``covered loan'' 
means--
            (1) a loan made, insured, or guaranteed under part B, D, or 
        E of title IV of the Higher Education Act of 1965 (20 U.S.C. 
        1071 et seq.; 1087a et seq.; 1087aa et seq.) before, on, or 
        after the date of enactment of this Act; or
            (2) a loan under the Health Education Assistance Loan 
        Program under title VII of the Public Health Service Act (42 
        U.S.C. 292 et seq.) made before, on, or after the date of 
        enactment of this Act.
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