H.R.2363: To amend the Internal Revenue Code of 1986 to exclude from gross income amounts paid on behalf of Federal employees and members of the Armed Forces on active duty under Federal student loan repayment programs.

Generating Opportunity by Forgiving Educational Debt for Service Act of 2007 - Amends the Internal Revenue Code to exclude from gross income student loan repayments by the federal government on behalf of federal employees and members of the Armed Forces on active duty. Exempts such repayments from social security taxes.