Student Loan Reform Act of 2022 This bill makes various changes to the federal student loan system, including by imposing a penalty on institutions of higher education for borrowers who default on student loans and prohibiting new Federal Direct PLUS Loans from being made to student loan borrowers (with an exception for parent borrowers and covered health care students) on or after July 1, 2023. The bill also addresses expressive activities (e.g., peacefully assembling, distributing literature, or carrying signs) on campuses.