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HR 2535 112th Congress House

College LIFE Act

Official title: To require financial literacy and economic education counseling for student borrowers, and for other purposes.

Introduced: July 14, 2011 See on congress.gov
Education Financial literacyGovernment lending and loan guaranteesHigher educationStudent aid and college costsTeaching, teachers, curricula
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 8, 2011
Referred to the Subcommittee on Higher Education and Workforce Training.
Jul 14, 2011
Referred to the House Committee on Education and the Workforce.
Jul 14, 2011
Introduced in House
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 Latest action September 8, 2011

Referred to the Subcommittee on Higher Education and Workforce Training.

 Plain-English summary Congressional Research Service

College Literacy in Finance and Economics Act of 2011 or College LIFE Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide student borrowers under the Federal Family Education Loan, Direct Loan, and Perkins Loan programs with financial literacy counseling within 45 days of their first receipt of such a loan and prior to the completion of their studies or when they leave school.

Requires student borrowers to receive at least four hours of counseling on each occasion.

Makes such counseling requirements inapplicable to borrowers of consolidation loans.

Requires financial literacy counseling to include information on student financial aid, banking, budgeting and saving, credit and debt management, credit cards and products, investing, credit scores, housing, taxes, and responsible financial decision making.

Directs the Secretary of Education to develop a curriculum that IHEs may use to fulfill this Act's requirements.

 Related & companion bills 1
  • S 1260 Related bill College LIFE Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 6
All 6 Democratic 4
GUTIERREZ, LUIS
· Jul 14, 2011
Hanabusa, Colleen
· Jul 14, 2011
 D
Kaptur, Marcy
Ohio · Jul 14, 2011
 D
Meeks, Gregory W.
New York · Jul 14, 2011
 D
Quigley, Mike
Illinois · Jul 14, 2011
 D
Tonko, Paul
New York · Jul 14, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2535: College LIFE Act. 112th Congress. Open America. https://openamerica.io/bill/112-HR-2535/
MLA
"H.R. 2535: College LIFE Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-2535/.
Bluebook (legal)
H.R. 2535, 112th Cong. (2026), https://openamerica.io/bill/112-HR-2535/.
Markdown link
[H.R. 2535: College LIFE Act](https://openamerica.io/bill/112-HR-2535/)
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