HR 5898
114th Congress
House
Education
Educational guidance
Higher education
Interest, dividends, interest rates
Student aid and college costs
Know Your Repayment Options Act
Introduced: July 14, 2016
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2016
Referred to the Subcommittee on Higher Education and Workforce Training.
Jul 14, 2016
Referred to the House Committee on Education and the Workforce.
Jul 14, 2016
Introduced in House
Plain-English summary
Know Your Repayment Options Act
This bill amends the Higher Education Act of 1965 to require the Department of Education (ED) to annually give federal student loan borrowers who have graduated or departed from school detailed information, including monthly amount and lifetime payment amount, for each repayment option available to the borrower. To provide this individualized information to borrowers, ED must establish a process for annual verification of the borrower's annual income and the outstanding balance of principal and interest due on federal loans. Borrowers may opt out of being provided this information.
What's happening now
Referred to the Subcommittee on Higher Education and Workforce Training.
Committees of jurisdiction
2