HR 3179 114th Congress House Education Consumer affairs Educational guidance Government information and archives Government lending and loan guarantees Government studies and investigations Higher education Interest, dividends, interest rates School administration Student aid and college costs

Empowering Students Through Enhanced Financial Counseling Act

Introduced: July 23, 2015 Introduced by: Guthrie, Brett Republican · Kentucky See on congress.gov

Everywhere this bill has been 14 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 12, 2016

Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Jul 11, 2016

Motion to reconsider laid on the table Agreed to without objection.

Jul 11, 2016

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4607-4609)

Jul 11, 2016

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H4607-4609)

Jul 11, 2016

DEBATE - The House proceeded with forty minutes of debate on H.R. 3179.

Jul 11, 2016

Considered under suspension of the rules. (consideration: CR H4607-4611)

Jul 11, 2016

Mr. Guthrie moved to suspend the rules and pass the bill, as amended.

Jul 11, 2016

Placed on the Union Calendar, Calendar No. 523.

Jul 11, 2016

Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 114-675.

Jun 22, 2016

Ordered to be Reported (Amended) by Voice Vote.

Jun 22, 2016

Committee Consideration and Mark-up Session Held.

Nov 16, 2015

Referred to the Subcommittee on Higher Education and Workforce Training.

Jul 23, 2015

Referred to the House Committee on Education and the Workforce.

Jul 23, 2015

Introduced in House

Plain-English summary Congressional Research Service

Empowering Students Through Enhanced Financial Counseling Act

(Sec. 2) This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify loan counseling requirements for an institution of higher education (IHE) that participates in federal student aid programs.

Currently, an IHE must provide entrance counseling to a student who is a first-time federal student loan borrower. This bill replaces required entrance counseling with required annual counseling. Also, it expands the required recipients of such annual counseling to include, in addition to student borrowers, Federal Pell Grant recipients and parent PLUS Loan borrowers.

Each annual counseling recipient must receive comprehensive information on the terms, conditions, and responsibilities with respect to a grant or loan and general information on a typical student budget, the right to request an annual credit report, average income and employment data, and financial management resources. Additionally, the bill revises, expands, or establishes specific annual counseling information requirements for student borrowers, Pell Grant recipients, or parent PLUS Loan borrowers.

(Sec. 3) The legislation revises and expands exit counseling information requirements to include an outstanding loan balance summary, the anticipated monthly payments under standard and income-based repayment plans, an explanation of the grace period preceding repayment, the option to pay accrued interest before it capitalizes, the right to request an annual credit report, and loan servicer contact information.

(Sec. 4) It directs ED to maintain a consumer-tested online counseling tool that provides annual and exit counseling.

(Sec. 5) The Institute of Education Sciences must study the impact and effectiveness of exit counseling, annual counseling, and the online counseling tool.

(Sec. 6) No additional funds are authorized to carry out the requirements of this bill.

What's happening now July 12, 2016

Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Committees of jurisdiction 3