Bill would block costly student loan rules without Congress approval
In committeeH.R. 937Latest action
Sponsor: Glenn Grothman · Representative · WI
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Official title: Protecting Taxpayers from Student Loan Bailouts Act
119th Congress
Topics: Education
Introduced:
Read the official bill on Congress.govIn plain words
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HR 937 would block the Education Secretary from issuing costly student loan rules, like broad debt forgiveness, without Congress.
45-second read · 5 questions answered below
What does this do?
HR 937 would bar the U.S. Secretary of Education from advancing draft, proposed, or final rules on federal student loan programs if they are "economically significant" (affecting the economy by $100 million or more, or having major impact on jobs, communities, or public health) and would raise the cost of loan subsidies to the government.
Who does it affect?
Current and future federal student loan borrowers, and the U.S. Department of Education's rulemaking process going forward.
Why does it matter?
This would prevent the Department of Education from creating new relief programs, adjusting repayment plans, or forgiving debt if those actions are judged too costly, without those actions going through Congress first.
What does it cost, and who pays?
- Targets rules costing $100 million or more
- Aims at loan subsidy cost increases
- Targets broad loan forgiveness plans
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Where does it stand?
- IntroducedFeb 4, 2025
- House committeeYou are here · Feb 4, 2025
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Referred to the House Committee on Education and Workforce.