1. Short title This Act may be cited as the Parent PLUS Loan Fairness and Responsibility Act of 2023 . 2. Transfer of federal student loans from parent to child Part G of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1088 et seq. ) is amended by inserting after section 493D the following: 493E. Transfer of federal student loans from parent to child (a) In general A covered parent loan may be transferred from the original borrower of the loan to a child of such borrower in accordance with this section. (b) Transfer requirements A covered parent loan may be transferred to a child under subsection (a) only if— (1) the loan is in good standing, as determined by the Secretary; (2) the loan was used to pay the educational expenses of the child to whom the loan is to be transferred; (3) the child to whom the loan is to be transferred— (A) has attained the age of 18 years; and (B) demonstrates the ability to repay the loan, as determined by the Secretary in accordance with subsection (c); (4) the child, the parent, and the lender agree, in writing, to the transfer of the loan; (5) the agreement described in paragraph (4) notifies the child to whom the loan is transferred of the effect of the transfer on the eligibility of the loan for forgiveness under section 455(m); and (6) a period of 180 days has elapsed during which the child was not pursuing— (A) at least a half-time course of study as determined by an institution of higher education