Can’t Cancel Your Own Debt Act of 2023

Subjects: Congress

Summary:  <p><b>Can't Cancel Your Own Debt Act of 2023</b></p> <p>This bill prohibits a Member of Congress from receiving student loan cancellation for time served in Congress or from a student loan program established or amended by an act of Congress, or set forth by an executive order or agency action, during the period in which the individual is serving as a Member.</p>

<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1234 Introduced in House (IH)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                H. R. 1234

To prohibit Members of Congress from receiving a financial benefit from 
              certain student loan cancellation programs.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 28, 2023

Mr. Cole (for himself, Mr. Babin, Mrs. Bice, Mr. Bost, Mr. Burgess, Mr. 
  Calvert, Mr. Guthrie, Mrs. Hinson, Mr. Johnson of South Dakota, Ms. 
 Letlow, Mr. Norman, Mr. Reschenthaler, Ms. Van Duyne, Mr. Womack, Mr. 
Carey, and Mr. Cloud) introduced the following bill; which was referred 
            to the Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
To prohibit Members of Congress from receiving a financial benefit from 
              certain student loan cancellation programs.

    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 ``Can't Cancel Your Own Debt Act of 
2023''.

SEC. 2. NO STUDENT LOAN CANCELLATION FOR MEMBERS OF CONGRESS.

    (a) In General.--Notwithstanding any other provision of law, an 
individual who serves as a Member of Congress shall not be eligible, 
during or after such service--
            (1) for any service- or employment-based student loan 
        cancellation for any time served as a Member of Congress; or
            (2) for student loan cancellation from any Federal program 
        that is established or amended by an Act of Congress, or 
        established or set forth by an Executive order or agency 
        action, during the period in which the individual is serving as 
        a Member.
    (b) Definitions.--For the purposes of this Act--
            (1) Agency action.--The term ``agency action'' has the 
        meaning given such term in section 551 of title 5, United 
        States Code.
            (2) Cancellation.--The term ``cancellation'' means 
        cancellation, forgiveness, or assumption of the obligation to 
        repay the student loan debt of an individual by the Federal 
        Government.
            (3) Student loan.--The term ``student loan'' means any loan 
        made to an individual (including a loan made to a parent on 
        behalf of a dependent student) for expenses related to 
        attendance or enrollment at an institution of higher education.
    (c) Application.--This Act shall apply to any individual who serves 
as a Member of Congress on or after the date of enactment of this Act.
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