Section 1 Short title
This Act may be cited as the “COVID-19 Student Loan Relief Act (CSLRA) of 2020”.
COVID-19 Student Loan Relief Act (CSLRA) of 2020
A BILL
To amend title 11 of the United States Code to make dischargeable debts for educational loans of certain debtors whose income has been reduced for the duration of or as a result of the COVID-19 outbreak or who have a family member who died as a result of COVID-19.
Sec. 2 Dischargeable educational loans
Section 523 of title 11 of the United States Code is amended by adding at the end the following:
“(f) Subsection (a) shall not apply with respect to a debt of the kind described in paragraph (8) if—
“(1) the pre-tax income for a calendar year of the debtor has declined—
“(A) by at least 20 percent, and the prior income of the debtor was less than $75,000 per year;
“(B) by at least 30 percent, and the prior income of the debtor was between $75,000 and $125,000; or
“(C) by at least 40 percent, and the prior income of the debtor was not less than $125,000;
“(2) the primary income-earner of the debtor’s family died or became seriously disabled as a result of COVID-19.”