Title: 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.
Policy area: Education

Summary:
This bill requires the Government Accountability Office (GAO) to study and report on the potential impact of transferring the functions of the Office of Federal Student Aid from the Department of Education to the Department of the Treasury. In conducting the study, the GAO must consult with stakeholders (e.g., institutions of higher education).

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1981 Introduced in House (IH)]

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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 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

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 Department 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 expertise and experience to 
        manage and oversee the functions of the Office of Federal 
        Student Aid of the Department of Education; and
            (4) the potential impact of such transfer on administrative 
        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 institutions of higher education, financial aid 
administrators, and existing entities that contract with the Office of 
Federal Student Aid of the Department of Education, that may be 
impacted by the transfer studied under such subsection.
    (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 subsection (a) and submit a report to the 
House Committee on Education and the Workforce and the Senate Committee 
on Health, Education, Labor, and Pensions that includes the results of 
such study.
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