I 
117TH CONGRESS 
1ST SESSION H. R. 1981 
To require the Comptroller General to submit a report on the transfer 
of student debt functions from the Department of Education to the 
Department of the Treasury, including costs of such a transfer and 
the mitigation of the duplication of duties by Federal agencies, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 17, 2021 
Mr. MURPHY of North Carolina introduced the following bill; which was 
referred to the Committee on Education and Labor 
A BILL 
To require the Comptroller General to submit a report on 
the transfer of student debt functions from the Depart-
ment of Education to the Department of the Treasury, 
including costs of such a transfer and the mitigation 
of the duplication of duties by Federal agencies, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. REPORT BY GAO ON TRANSFER OF FUNCTIONS 
OF THE OFFICE OF FEDERAL STUDENT AID 
TO THE DEPARTMENT OF TREASURY. 
(a) STUDY.—The Comptroller General of the United 
States shall conduct a study on the impact of transferring 
the functions, in whole or in part, of the Office of Federal 
Student Aid from the Department of Education to the De-
partment of the Treasury, which shall include— 
(1) the potential impact of such transfer on the 
Federal Government, including— 
(A) any change in cost of administering 
the program; and 
(B) the duplication of duties by Federal 
agencies; 
(2) an analysis of how the responsibilities and 
operations of the Office of Federal Student Aid of 
the Department of Education overlaps with relevant 
responsibilities and operations at the Department of 
Treasury; 
(3) an analysis of whether the employees of the 
Department of Treasury possess the necessary ex-
pertise and experience to manage and oversee the 
functions of the Office of Federal Student Aid of the 
Department of Education; and 
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(4) the potential impact of such transfer on ad-
ministrative costs and staff necessary for carrying 
out such functions. 
(b) CONSULTATION.—In conducting the study under 
subsection (a), the Comptroller General of the United 
States shall consult with stakeholders, including institu-
tions of higher education, financial aid administrators, 
and existing entities that contract with the Office of Fed-
eral Student Aid of the Department of Education, that 
may be impacted by the transfer studied under such sub-
section. 
(c) REPORT.—Not later than 2 years after the date 
of the enactment of this Act, the Comptroller General of 
the United States shall complete the study under sub-
section (a) and submit a report to the House Committee 
on Education and the Workforce and the Senate Com-
mittee on Health, Education, Labor, and Pensions that 
includes the results of such study. 
Æ 
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