10 U.S.C. § 8271 - U.S. Code - Unannotated Title 10. Armed Forces § 8271. Settlement of accounts: remission or cancellation of indebtedness of members

(a) In general.--The Secretary of the Navy may have remitted or cancelled any part of the indebtedness of a person to the United States or any instrumentality of the United States incurred while the person was serving as a member of the naval service, whether as a regular or a reserve in active status, but only if the Secretary considers such action to be in the best interest of the United States.

(b) Retroactive applicability to certain debts.--The authority in subsection (a) may be exercised with respect to any debt covered by that subsection that is incurred on or after October 7, 2001.

(c) Regulations.--This section shall be administered under regulations prescribed by the Secretary of Defense.