1. Short title This Act may be cited as the Student Debt Cancellation Act of 2019 . 2. 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) Definition of eligible Federal student loan In this Act, the term eligible Federal student loan means any loan made, insured, or guaranteed under part B, part D, or part E of title IV of the Higher Education Act of 1965 before the date of enactment of this Act, including— (1) loans made to a parent borrower on behalf of a dependent student under part B or part D of such Act; (2) consolidation loans made under such Act; and (3) any grant treated as a loan under such part D in accordance with section 258(e), section 420M(c), or section 807(d) of such Act. (c) Method of loan forgiveness To provide the loan forgiveness required under subsection (a) , the Secretary of Education is authorized to carry out a program— (1) through the holder of a loan, to assume the obligation to repay the outstanding balance of interest and principal due on loans made, insured, or guaranteed under part B of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1071 et seq.)