I 
116TH CONGRESS 
1ST SESSION H. R. 3448 
To forgive outstanding Federal and private student loans. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 24, 2019 
Ms. OMAR (for herself, Ms. JAYAPAL, Ms. JACKSON LEE, Ms. TLAIB, Ms. 
NORTON, Mr. THOMPSON of Mississippi, Ms. LEE of California, Mr. 
GARCI´A of Illinois, and Ms. OCASIO-CORTEZ) introduced the following 
bill; which was referred to the Committee on Education and Labor, and 
in addition to the Committees on Financial Services, and Ways and 
Means, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To forgive outstanding Federal and private student loans. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Student Debt Cancella-
tion Act of 2019’’. 
SEC. 2. FORGIVENESS OF OUTSTANDING FEDERAL STU-
DENT LOANS. 
(a) FORGIVENESS REQUIRED.—Notwithstanding any 
other provision of law, not later than 180 days after the 
VerDate Sep 11 2014 
00:06 Jun 29, 2019
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H3448.IH
H3448
pamtmann on DSKBFK8HB2PROD with BILLS
date of the enactment of this Act, the Secretary of Edu-
cation shall forgive the outstanding balance of interest and 
principal due on all eligible Federal student loans. 
(b) DEFINITION OF ELIGIBLE FEDERAL STUDENT 
LOAN.—In this Act, the term ‘‘eligible Federal student 
loan’’ means any loan made, insured, or guaranteed under 
part B, part D, or part E of title IV of the Higher Edu-
cation Act of 1965 before the date of enactment of this 
Act, including— 
(1) loans made to a parent borrower on behalf 
of a dependent student under part B or part D of 
such Act; 
(2) consolidation loans made under such Act; 
and 
(3) any grant treated as a loan under such part 
D in accordance with section 258(e), section 
420M(c), or section 807(d) of such Act. 
(c) METHOD OF LOAN FORGIVENESS.—To provide 
the loan forgiveness required under subsection (a), the 
Secretary of Education is authorized to carry out a pro-
gram— 
(1) through the holder of a loan, to assume the 
obligation to repay the outstanding balance of inter-
est and principal due on loans made, insured, or 
guaranteed under part B of title IV of the Higher 
VerDate Sep 11 2014 
00:06 Jun 29, 2019
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3448.IH
H3448
pamtmann on DSKBFK8HB2PROD with BILLS
Education Act of 1965 (20 U.S.C. 1071 et seq.); 
and 
(2) to cancel the outstanding balance of interest 
and principal due on loans made under part D or 
part E of such title. 
(d) REPAYMENT REFUNDS.— 
(1) PRIOR REPAYMENT.—Nothing in this sec-
tion shall be construed to authorize any refunding of 
any eligible Federal student loan repayment made 
before the date of enactment of this Act. 
(2) PAYMENTS
MADE
AFTER
ENACTMENT.— 
The Secretary shall refund to each borrower who re-
ceives forgiveness under this section the amount of 
any payments the borrower makes on an eligible 
Federal student loan during the period beginning on 
the date of the enactment of this Act and ending on 
the date on which the Secretary forgives the out-
standing balance of such eligible Federal student 
loan. 
(e) EXCLUSION
FROM
TAXABLE
INCOME.—The 
amount of a borrower’s eligible Federal student loans for-
given under this section, and the amount of any repay-
ments to a borrower under subsection (d)(2), shall not be 
included in the gross income of the borrower for purposes 
of the Internal Revenue Code of 1986. 
VerDate Sep 11 2014 
00:06 Jun 29, 2019
Jkt 089200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H3448.IH
H3448
pamtmann on DSKBFK8HB2PROD with BILLS
‘‘(2) The Secretary shall issue to the borrower 
a loan, known as a Federal Direct Forgiveness 
Loan, in an amount equal to the sum of the amount 
paid to the private educational lender of the eligible 
private student loan of the borrower that was pur-
chased by the Secretary in accordance with para-
graph (1). 
‘‘(3) The Secretary shall, immediately upon 
issuance of a Federal Direct Forgiveness Loan, can-
cel the outstanding balance of interest and principal 
due on such loan. 
‘‘(d) REPAYMENT REFUNDS PROHIBITED.—Nothing 
in this section shall be construed to authorize any refund-
ing of any repayment of a loan. 
‘‘(e) EXCLUSION FROM TAXABLE INCOME.—The 
amount of a borrower’s Federal Direct Forgiveness Loans 
forgiven under this section shall not be included in the 
gross income of the borrower for purposes of the Internal 
Revenue Code of 1986.’’. 
(b) NOTICE TO BORROWERS.—Section 128(e) of the 
Truth in Lending Act (15 U.S.C. 1638(e)) is amended by 
adding at the end the following new paragraph: 
‘‘(12) NOTICE REQUIRED ALONG WITH BILLING 
STATEMENTS.—Along with each billing statement 
sent to the borrower during the six-month period be-
VerDate Sep 11 2014 
00:06 Jun 29, 2019
Jkt 089200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H3448.IH
H3448
pamtmann on DSKBFK8HB2PROD with BILLS
ginning on the day after the date of enactment of 
the Student Debt Cancellation Act of 2019, the pri-
vate educational lender shall include a statement in-
forming the borrower that— 
‘‘(A) the borrower may be eligible for loan 
forgiveness of eligible private student loans 
under section 459C of the Higher Education 
Act of 1965; and 
‘‘(B) to be eligible for such loan forgive-
ness, the borrower must apply to the Secretary 
of Education no later than the date that is 180 
days after the date of enactment of the Student 
Debt Cancellation Act of 2019.’’. 
SEC. 4. NOTICE TO THE PUBLIC. 
Not later than 15 days after the date of enactment 
of this Act, the Secretary of Education, in consultation 
with institutions of higher education and lenders of Fed-
eral student loans and private education loans, shall take 
such actions as may be necessary to ensure that borrowers 
who have outstanding eligible Federal student loans or 
outstanding eligible private student loans (as defined in 
section 459C of the Higher Education Act of 1965, as 
added by this Act) are aware of the loan forgiveness pro-
grams authorized by this Act. Such information shall— 
VerDate Sep 11 2014 
00:06 Jun 29, 2019
Jkt 089200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H3448.IH
H3448
pamtmann on DSKBFK8HB2PROD with BILLS
(1) be presented in a form that is widely avail-
able to the public, especially to borrowers with out-
standing Federal and private student loans; 
(2) be easily understandable; and 
(3) clearly notify borrowers of eligible private 
student loans— 
(A) that borrowers must apply for loan 
forgiveness under this Act, and must do so no 
later than the date that is 180 days after the 
date of enactment of this Act; and 
(B) of the application process and require-
ments to apply for forgiveness of eligible private 
student loans in accordance with this Act. 
Æ 
VerDate Sep 11 2014 
00:06 Jun 29, 2019
Jkt 089200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6301
E:\BILLS\H3448.IH
H3448
pamtmann on DSKBFK8HB2PROD with BILLS