[Congressional Record Volume 169, Number 32 (Thursday, February 16, 2023)]
[Senate]
[Pages S459-S460]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. THUNE (for himself, Mr. Cassidy, Mr. Barrasso, Mrs. Britt, 
        Mr. Cramer, Ms. Ernst, Mr. Grassley, Mr. Marshall, Mr. Scott of 
        Florida, and Mr. Scott of South Carolina):

[[Page S460]]

  S. 506. A bill to amend the Higher Education Relief Opportunities for 
Students Act of 2003 to strike the Secretary's unilateral authority 
during a national emergency, and for other purposes; to the Committee 
on Health, Education, Labor, and Pensions.
  Mr. THUNE. Madam President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                 S. 506

       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 ``Stop Reckless Student Loan 
     Actions Act of 2023''.

     SEC. 2. FINDINGS.

       Congress finds the following:
       (1) The Higher Education Relief Opportunities for Students 
     Act of 2003 (20 U.S.C. 1098aa et seq.) was intended to 
     provide relief opportunities for members of the armed 
     services.
       (2) The authority provided under the Higher Education 
     Relief Opportunities for Students Act of 2003 has been abused 
     by the Executive Branch during the COVID-19 national 
     emergency regarding the payment of Federal student loans.
       (3) The unilateral payment pause on Federal student loans 
     has cost more than $160,000,000,000.
       (4) The unilateral payment pause on Federal student loans 
     has inflationary impacts.
       (5) The individuals benefitting the most from the payment 
     pause continued by the Executive Branch are doctors, who 
     receive 11 times the benefit of bachelor's degree recipients 
     and 16 times the benefit of associate's degree recipients.

     SEC. 3. AMENDMENTS TO THE HIGHER EDUCATION RELIEF 
                   OPPORTUNITIES FOR STUDENTS ACT OF 2003.

       Section 5(2) of the Higher Education Relief Opportunities 
     for Students Act of 2003 (20 U.S.C. 1098ee) is amended--
       (1) in the matter preceding subparagraph (A), by inserting 
     ``(or the spouse or dependent of the parent, as that term is 
     used in section 480 of the Higher Education Act of 1965 (20 
     U.S.C. 1087vv))'' after ``an individual'';
       (2) in subparagraph (A), by inserting ``and'' after the 
     semicolon;
       (3) in subparagraph (B), by striking the semicolon and 
     inserting a period; and
       (4) by striking subparagraphs (C) and (D).

     SEC. 4. HIGHER EDUCATION RELIEF OPPORTUNITIES FOR CIVILIANS 
                   IN THE CASE OF A NATIONAL EMERGENCY AND 
                   LIMITATIONS ON COVERED LOANS.

       (a) Temporary Authority for Higher Education Relief.--
       (1) In general.--Subject to the limitation provided in 
     subsection (c), during the 90 day period after a declaration 
     of a national emergency under section 201 of the National 
     Emergencies Act (50 U.S.C. 1621), the Secretary of Education 
     may suspend or defer Federal student loan payments or the 
     accrual of interest for loans 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.) or loans under the Health Education Assistance Loan 
     Program.
       (2) Limitation.--The Secretary of Education may not use the 
     temporary authority provided under paragraph (1) in 
     consecutive 90 day periods.
       (b) Recommendations for Higher Education Relief From the 
     Secretary of Education.-- In the case of a national emergency 
     declared by the President under section 201 of the National 
     Emergencies Act (50 U.S.C. 1621), the Secretary of Education 
     shall submit to the Committee on Health, Education, Labor, 
     and Pensions of the Senate and the Committee on Education and 
     the Workforce of the House of Representatives, not later than 
     60 days after the date of such declaration, a report that 
     includes any recommendations on relief necessary for 
     recipients of student financial assistance under title IV of 
     the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.).
       (c) Limits on Executive Authority to Suspend or Defer 
     Federal Student Loan Payments or Interest.--
       (1) In general.--Notwithstanding any other provision of 
     law, the President or the Secretary of Education may not 
     suspend or defer Federal student loan payments on covered 
     loans or the accrual of interest on covered loans of 
     borrowers with annual household incomes over 400 percent of 
     the poverty line (as determined under the poverty guidelines 
     updated periodically in the Federal Register by the 
     Department of Health and Human Services under the authority 
     of section 673(2) of the Community Services Block Grant Act 
     (42 U.S.C. 9902(2))).
       (2) Application of congressional review act.--In any case 
     where the President or the Secretary of Education suspends or 
     defers Federal student loan payments on covered loans or the 
     accrual of interest on covered loans through any type of 
     executive or regulatory action, the suspension or deferral 
     shall be--
       (A) deemed to be a major rule for purposes of chapter 8 of 
     title 5, United States Code (commonly known as the 
     ``Congressional Review Act''); and
       (B) subject to congressional disapproval in accordance with 
     such chapter.
       (d) Limits on Executive Authority to Cancel Student 
     Loans.--
       (1) In general.--Notwithstanding any other provisions of 
     law, the President or the Secretary of Education may not 
     cancel the outstanding balances, or a portion of the 
     balances, on covered loans due to the COVID-19 national 
     emergency or any other national emergency.
       (2) Application of congressional review act.--In any case 
     where the President or the Secretary of Education cancels the 
     outstanding balances, or portion of the balances, on covered 
     loans through any type of executive or regulatory action, the 
     cancellation shall be--
       (A) deemed to be a major rule for purposes of chapter 8 of 
     title 5, United States Code (commonly known as the 
     ``Congressional Review Act''); and
       (B) subject to congressional disapproval in accordance with 
     such chapter.
       (e) Implementation.--
       (1) Regarding suspensions or deferments of federal student 
     loan payments ongoing at the time of enactment.--Not later 
     than the effective date of this Act, any suspension or 
     deferment of Federal student loan payments on covered loans 
     due to the COVID-19 national emergency shall terminate. 
     Notwithstanding any other provision of law, a subsequent 
     suspension or deferment of Federal student loan payments on 
     covered loans for the COVID-19 national emergency shall be 
     prohibited.
       (2) Regarding cancellation of student loans prior to 
     effective date.--Any cancellation of the outstanding balance, 
     or portion of a balance, on a covered loan made by the 
     President or Secretary of Education through any type of 
     executive or regulatory action in the 30 days before the 
     effective date of this Act shall be--
       (A) deemed to be a major rule for purposes of chapter 8 of 
     title 5, United States Code (commonly known as the 
     ``Congressional Review Act''); and
       (B) subject to congressional disapproval in accordance with 
     such chapter.
       (f) Definition of Covered Loan.--In this subsection, the 
     term ``covered loan'' means 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.) or a loan under the Health Education 
     Assistance Loan Program.

     SEC. 5. EFFECTIVE DATE.

       This Act, and the amendments made by this Act, shall take 
     effect on the date that is 30 days after the date of 
     enactment of this Act.

                          ____________________