ASAP Forgiveness Act
Latest action · May 26, 2022 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 26, 2022
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Health, Education, Labor, and Pensions Committee | Referred May 26, 2022 |
Actions 2
Everything that happened, newest first.
- May 26, 2022Introduced in Senate
- May 26, 2022Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Higher Education Act of 1965 to authorize a new student loan forgiveness program.
- Short Title(s) as Introduced
- ASAP Forgiveness Act
- Affording Students A Path to Forgiveness Act
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- May 26, 2022Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
