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H.R. 423

U.S. House•In House Committee

Summary

H.R. 423, the Private Student Loan Bankruptcy Fairness Act of 2025, was introduced in the House on Jan 15, 2025 by Rep. Steve Cohen (D) with 5 co-sponsors. It was referred to Judiciary, and last saw action on Jan 15, 2025: Referred to the House Committee on the Judiciary.

Record

Text

H.R. 423 has 5 co-sponsors.

hb423/introduced-in-house.txt
119 HR 423 IH: Private Student Loan Bankruptcy Fairness Act of 2025
 U.S. House of Representatives
 2025-01-15
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 423  IN THE HOUSE OF REPRESENTATIVES   January 15, 2025   Mr. Cohen  (for himself,  Mr. Davis of Illinois ,  Mr. Swalwell ,  Ms. Moore of Wisconsin , and  Ms. Brownley ) introduced the following bill; which was referred to the  Committee on the Judiciary    A BILL
To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.
1.
Short title
This Act may be cited as the   Private Student Loan Bankruptcy Fairness Act of 2025  .
2.
Exceptions to discharge
Section 523(a)(8) of title 11, United States Code, is amended—
(1)
by striking subparagraph (B); and
(2)
in subparagraph (A)—
(A)
in clause (i)—
(i)
by striking  (i) ; and
(ii)
by inserting  any program for which substantially all of the funds are provided by a  after  unit or ; and
(B)
in clause (ii)—
(i)
by striking  (ii)  and inserting  (B) ; and
(ii)
by striking  or  at the end.
3.
Effective date; application of amendments
(a)
Effective date
Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act.
(b)
Application of amendments
The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-01-15
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Jan 15, 2025

hb423/introduced-in-house.md

Shown Here:
Introduced in House (01/15/2025)

Private Student Loan Bankruptcy Fairness Act of 2025

This bill modifies the treatment of certain student loans in bankruptcy.

Specifically, it allows private student loans to be discharged in bankruptcy regardless of whether a debtor demonstrates undue hardship. Under current law, student loans may be discharged in bankruptcy only if the loans impose an undue hardship on the debtor.

Sponsors

Rep. Steve Cohen (D) sponsors H.R. 423, and 5 members have co-sponsored it, 4 of them from the day it was introduced.

Committees

H.R. 423 went before 1 committee: Judiciary.

Judiciary
Judiciary
Referred To · Jan 15, 2025 · 2,181 Bills

Actions

H.R. 423 has taken 2 actions since Jan 15, 2025.

ChamberAction
Jan 15, 2025
House
Introduced in House
Jan 15, 2025
House
Referred to the House Committee on the Judiciary.Judiciary Committee

Votes

H.R. 423 has not gone to a roll call.

Titles

H.R. 423 goes by 3 titles, 1 of them short titles.

  • Private Student Loan Bankruptcy Fairness Act of 2025 — Display Title
  • To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans. — Official Title as Introduced
  • Private Student Loan Bankruptcy Fairness Act of 2025 — Short Title(s) as Introduced

Classification

The Congressional Research Service files H.R. 423 under Finance and Financial Sector, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 423’s is Finance and Financial Sector.

hr423/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 423, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 8 (Wednesday, January 15, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. COHEN:H.R. 423.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H186]

Source: congress.gov · legiscan.com