Fairness for Responsible Borrowers Act
This bill generally prohibits the Departments of Education, Justice, or the Treasury from taking any action to cancel or forgive the outstanding balances, or portion of balances, of covered loans. Covered loans refer to Federal Family Education Loans, Federal Direct Loans, Federal Perkins Loans, and loans under the Health Education Assistance Loan Program.
The prohibition does not apply to targeted federal student loan forgiveness, cancellation, or repayment programs carried out under the Higher Education Act of 1965.
To prohibit the Secretary of Education, the Secretary of the Treasury, 
   and the Attorney General from cancelling student loans except as 
                    specifically authorized by law.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fairness for Responsible Borrowers 
Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The executive branch does not have the statutory 
        authority to cancel student loans on a large scale.
            (2) Student loan forgiveness is unfair to those who have 
        already paid off their loans and to those who did not attend 
        college.
            (3) Student loan forgiveness is inherently regressive and 
        would disproportionately benefit upper-class Americans.
            (4) An undergraduate degree is by no means the only option 
        for a successful career path.
            (5) Community and technical colleges are a fantastic way 
        for students to learn a valuable skill set without taking on a 
        large debt burden.

SEC. 3. PROHIBITION ON MASS CANCELLATION OF STUDENT LOANS.

    (a) Prohibition.--
            (1) In general.--Notwithstanding any other provision of 
        law, the Secretary of Education, the Secretary of the Treasury, 
        or the Attorney General shall not take any action to cancel or 
        forgive the outstanding balances, or portion of balances, of 
        covered loans, except as provided in paragraph (2).
            (2) Exemption.--The prohibition described in paragraph (1) 
        shall not apply to targeted Federal student loan forgiveness, 
        cancellation, or repayment programs carried out under the 
        Higher Education Act of 1965 (20 U.S.C. 1001 et seq.).
    (b) Definitions.--In this section, the term ``covered loan'' 
means--
            (1) a loan made, insured, or guaranteed under part B, D, or 
        E of title IV of the Higher Education Act of 1965 (20 U.S.C. 
        1071 et seq.; 1087a et seq.; 1087aa et seq.) before, on, or 
        after the date of enactment of this Act; or
            (2) a loan under the Health Education Assistance Loan 
        Program under title VII of the Public Health Service Act (42 
        U.S.C. 292 et seq.) made before, on, or after the date of 
        enactment of this Act.
    (c) Limitation.--The Secretary of Education, the Secretary of the 
Treasury, or the Attorney General may not implement, or publish in any 
form, any regulation, or take any action, that modifies, alters, 
amends, cancels, discharges, forgives, or defers the repayment of any 
student debt not expressly permitted within statute or regulation, 
regarding covered loans, except to the extent that such regulation or 
action reflects the clear and unequivocal intent of Congress in 
legislation.
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Fairness for Responsible Borrowers Act
To prohibit the Secretary of Education, the Secretary of the Treasury, and the Attorney General from cancelling student loans except as specifically authorized by law.
Fairness for Responsible Borrowers Act
Rep. Grothman, Glenn