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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Oct 2, 2020.
Student Loan Relief Act
This bill requires the Department of Education to cancel or repay up to $25,000 in outstanding student loan debt for each borrower. Further, the bill outlines the method of loan discharge and, for tax purposes, excludes loan cancellation or repayment from a borrower's gross income.