118 HR 4742 IH: Pay Back Act U.S. House of Representatives 2023-07-19 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS1st SessionH. R. 4742IN THE HOUSE OF REPRESENTATIVESJuly 19, 2023Mrs. 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 concernedA BILLTo 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.

1.

Short title

This Act may be cited as the Pay Back Act.

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.