S 781
114th Congress
Senate
Education
Financial literacy
Government information and archives
Higher education
Student aid and college costs
Empowering Student Borrowers Act
Introduced: March 18, 2015
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 18, 2015
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Mar 18, 2015
Introduced in Senate
Plain-English summary
Empowering Student Borrowers Act
Amends the Higher Education Act of 1965 to direct the Secretary of Education to establish, maintain, and periodically update best practices for institutions of higher education in: (1) teaching financial literacy skills, and (2) providing students with useful and necessary information to assist them in making financial decisions related to student borrowing.
Requires those practices to include:
- methods to ensure that students have a clear sense of their total borrowing obligations;
- the most effective ways to engage students in financial literacy education;
- information on how to target different student populations, including part-time students, first-time students, and other nontraditional students; and
- ways to clearly communicate the importance of graduating on a student's ability to repay student loans.
What's happening now
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Committees of jurisdiction
1
Cosponsors
1