House Votes Against Student Loan Forgiveness and Relief Programs

The US House of Representatives passed a bill called the Congressional Review Act (CRA) that would require the Education Department to reverse months of forbearance since September 2022 and waived interest charges that was part of the federal response to the Covid-19 pandemic. It would also prevent the implementation of President Joe Biden’s up to $20,000 cancellation of student debt — regardless of how the Supreme Court rules on the legality of the program. The measure, which the president has vowed to veto if it passes the Senate, would leave 40 million student loan borrowers with past-due balances on their loans plus new interest charges.