1. Short title This Act may be cited as the Students Over Special Interests Act . 2. Sunset of public law 115–97 (a) In general All provisions of, and amendments made by, Public Law 115–97 shall not apply to calendar, taxable, plan, or limitation years beginning after December 22, 2017. (b) Application of certain laws The Internal Revenue Code of 1986 shall be applied and administered to years described in subsection (a) as if the provisions and amendments described in subsection (a) had never been enacted. 3. Forgiveness of outstanding Federal student loans (a) Forgiveness required Notwithstanding any other provision of law, not later than 180 days after the date of the enactment of this Act, the Secretary of Education shall forgive the outstanding balance of interest and principal due on all eligible Federal student loans. (b) Method of loan forgiveness To provide the loan forgiveness required under subsection (a), the Secretary is authorized to carry out a program— (1) through the holder of the loan, to assume the obligation to repay the outstanding balance of interest and principal due on a loan made, insured, or guaranteed under part B of title IV of the Higher Education Act of 1965; and (2) to cancel the outstanding balance of interest and principal due on a loan made under part D of such title. (c) Exclusion from taxable income The amount of a borrower’s eligible Federal student loans forgiven under this section shall not be included in the gross income of the borrower for purposes of the Internal Revenue Code of 1986. (d) Definition of eligible Federal student loan In this section the term eligible Federal student loan means any loan made, insured, or guaranteed under part B or part D of title IV of the Higher Education Act of 1965. 4. Increase in Federal Pell Grants