,i  #aagth ,,congress  #b;d ,session    
,h4 ,r4 #fgjh  ,,in ,,the ,,house ,,of  
,,representatives  ,february #aa1       
#bjbb,mr4 ,vicente ,gonzalez of ,texas  
introduced the following bill2 which was
 referred to the ,committee on          
,education and ,labor1 and in addition  
to the ,committee on ,ways and ,means1  
for a period to be subsequently         
determined by the ,speaker1 in each case
 for consideration of such provisions as
 fall within the jurisdiction of the    
committee concerned  ,a ,,bill  ,to     
direct the ,secretary of ,education to  
cancel or repay up to #be1jjj in        
,federal student loans for each         
borrower4  #a4 ,short title ,this ,act  
may be cited as the ,student ,loan      
,relief ,act4  #b4 ,writing down        
balances for ,federal student loan      
borrowers  7a7 ,in general ,not later   
than #ij days after the date of         
enactment of this ,act1 the ,secretary  
shall cancel or repay an amount on the  
outstanding balance due 7including the  

unpaid principal amount1 any accrued    
interest1 and any fees or charges7 on   
the ,federal student loans of a borrower
 that is equal to the lesser of-- 7#a7  
#be1jjj2 or  7#b7 the total outstanding 
balance due on such loans of the        
borrower4  7b7 ,application ,unless     
otherwise requested by the borrower in  
writing1 a cancellation or repayment    
under subsection 7a7 shall be applied-- 
7#a7 in the case of a borrower whose    
loans have different applicable rates of
 interest1 first toward the outstanding 
balance due on the loan with the highest
 applicable rate of interest among such 
loans2 and  7#b7 in the case of a       
borrower of loans that have the same    
applicable rates of interest1 first     
toward the outstanding balance of       
principal due on the loan with the      
highest principal balance among such    
loans4  7c7 ,data ,to implement         
,contractors of the ,secretary1 and     
holders of ,federal student loans1 shall
 report1 to the satisfaction of the     

,secretary the information necessary to 
carry out this section4  7d7 ,taxation  
,for purposes of the ,internal ,revenue 
,code of #aihf1 in the case of any      
cancellation or repayment of            
indebtedness under this subsection with 
respect to any borrower3 7#a7 ,exclusion
 from gross income ,no amount shall be  
included in the gross income of such    
borrower by reason of such cancellation 
or repayment4  7#b7 ,waiver of          
information reporting requirements      
,amounts excluded from gross income     
under paragraph 7#a7 shall not be       
required to be reported 7and shall not  
be taken into account in determining    
whether any reporting requirement       
applies7 under chapter #fa of such      
,code4  7e7 ,definitions ,in this       
section3 7#a7 ,federal student loan ,the
 term ,federal student loan means a     
loan-- 7,a7 made under part ,b1 part ,d1
 or part ,e of title ,,iv of the ,higher
 ,education ,act of #aife 7#bj ,u4,s4,c4
 #ajga et seq41 #ajhg;a et seq41        

#ajhg;aa et seq471 and held by the      
,department of ,education2 or  7,b7     
made1 insured1 or guaranteed under part 
,b of the such title 7#bj ,u4,s4,c4     
#ajga et seq471 or made under part ,e of
 such title 7#bj ,u4,s4,c4 #ajhgqaa     
seq471 and not held by the ,department  
of ,education4  7#b7 ,secretary ,the    
term ,secretary means the ,secretary of 
,education4