,,ii  #aagth ,,congress  #b;d ,session  
,s4 #dbec  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #ah       
7legislative day1 ,may #ag71 #bjbb,mr4  
,romney 7for himself1 ,mr4 ,burr1 ,mr4  
,scott of ,south ,carolina1 ,mr4        
,cassidy1 and ,mr4 ,tillis7 introduced  
the following bill2 which was read twice
 and referred to the ,committee on      
,health1 ,education1 ,labor1 and        
,pensions  ,a ,,bill  ,to prohibit the  
mass cancellation of student loans4  #a4
 ,short title ,this ,act may be cited as
 the ,student ,loan ,accountability     
,act4  #b4 ,findings ,congress finds the
 following3 7#a7 ,congress does not hide
 elephants in mouseholes2 statutory     
authority has not been provided to the  
executive branch of the ,federal        
,government to cancel student loans on a
 mass scale4  7#b7 ,through strained    
readings of statute1 liberal interest   
groups assert that a mass cancellation  
event would be legal4  7#c7 ,it is      
unfair for taxpayers who paid student   

loans or did not attend college to pay  
for those who chose to take student     
loans4  #c4 ,prohibition on mass        
cancellation of student loans  7a7      
,prohibition  7#a7 ,in general          
,notwithstanding any other provision of 
law1 the ,secretary of ,education1 the  
,secretary of the ,treasury1 or the     
,attorney ,general shall not take any   
action to cancel or forgive the         
outstanding balances1 or portion of     
balances1 of covered loans1 except as   
provided in paragraph 7#b74  7#b7       
,exemption ,the prohibition described in
 paragraph 7#a7 shall not apply to      
targeted ,federal student loan          
forgiveness1 cancellation1 or repayment 
programs carried out under the ,higher  
,education ,act of #aife 7#bj ,u4,s4,c4 
#ajja et seq471 under final regulations 
as in effect on ,may #aa1 #bjbb4  7b7   
,definitions ,in this section1 the term 
covered loan means-- 7#a7 a loan made1  
insured1 or guaranteed under part ,b1   
,d1 or ,e of title ,,iv of the ,higher  

,education ,act of #aife 7#bj ,u4,s4,c4 
#ajga et seq42 #ajhg;a et seq42 #ajhg;aa
 et seq47 before1 on1 or after the date 
of enactment of this ,act2 or  7#b7 a   
loan under the ,health ,education       
,assistance ,loan ,program under title  
,,vii of the ,public ,health ,service   
,act 7#db ,u4,s4,c4 #bib et seq47 made  
before1 on1 or after the date of        
enactment of this ,act4  7c7 ,limitation
 ,the ,secretary of ,education1 the     
,secretary of the ,treasury1 or the     
,attorney ,general may not implement1 or
 publish in any form1 any regulation1 or
 take any action1 that modifies1 alters1
 amends1 cancels1 discharges1 forgives1 
or defers the repayment of any student  
debt not expressly permitted within     
statute or regulation as in effect on   
,march #ab1 #bjbj1 regarding covered    
loans1 except to the extent that such   
regulation or action reflects the clear 
and unequivocal intent of ,congress in  
legislation4