[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.
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