S.2235: Student Loan Debt Relief Act of 2019


The Student Loan Debt Relief Act (S. 2235) would provide student loan debt relief for 42 million Americans and eliminate more than 75 percent of total student loan debt outstanding. Specifically, the bill would cancel up to $50,000 in student loan debt for borrowers earning less than $100,000 and cancel 1/3 of student loan debt for borrowers earning more than $100,000. Additionally, the bill would automatically refinance remaining federal student loans to the interest rates specified in (S. 768 / H.R. 1707) and allow borrowers to discharge their loans in bankruptcy, similar to (S. 1414 / H.R. 2648). The bill would also provide a one year freeze on the collection of student loan payments from borrowers and wage garnishment.

There is no pay-for specified in the bill, but Warren has proposed independently a 2 percent wealth tax on individuals with over $50 million.

H.R. 3887 is the House companion bill introduced by Rep. James Clyburn


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Our Stance




Bill Number


Date Introduced

July 23, 2019


Senate Finance Committee

Bill Status

Introduced or Prefiled