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ASAP Forgiveness Act
12/29/2022, 4:48 PM
Congressional Summary of S 4342
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.
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Current Status of Bill S 4342
Bill S 4342 is currently in the status of Bill Introduced since May 26, 2022. Bill S 4342 was introduced during Congress 117 and was introduced to the Senate on May 26, 2022. Bill S 4342's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of May 26, 2022
Bipartisan Support of Bill S 4342
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 4342
Primary Policy Focus
EducationAlternate Title(s) of Bill S 4342
ASAP Forgiveness Act
ASAP Forgiveness Act
Affording Students A Path to Forgiveness Act
A bill to amend the Higher Education Act of 1965 to authorize a new student loan forgiveness program.
Comments
Sponsors and Cosponsors of S 4342
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