Debt Cancellation Accountability Act of 2023

HR 509, the Debt Cancellation Accountability Act of 2023, prohibits the federal government from canceling student loan debt for groups of borrowers (e.g., all teachers or all borrowers in a specific state) without explicit congressional approval. It directly affects borrowers with federal student loans under parts B, D, or E of the Higher Education Act by requiring the Education Secretary to submit detailed requests to Congress before any "class-based" cancellation exceeding $1 million total. The bill mandates that Congress must specifically appropriate funds for such programs, and the Secretary must justify the need, legal authority, and why group cancellation is used instead of individual reviews. Existing targeted programs (like those for specific professions) remain exempt if they assess eligibility on a case-by-case basis.