HR 4119
115th Congress
House
Education
Congressional oversight
Higher education
Interest, dividends, interest rates
Student aid and college costs
Student Loan Disclosure Modernization Act
Introduced: October 25, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 25, 2017
Referred to the House Committee on Education and the Workforce.
Oct 25, 2017
Introduced in House
Plain-English summary
Student Loan Disclosure Modernization Act
This bill amends the Higher Education Act of 1965 to require the student loan disclosure forms under the Federal Family Education Loan Program to include the annual percentage rate applicable to the loan.
In addition, the bill requires the student loan disclosure forms under the William D. Form Federal Direct Loan Program to be written in plain language to enable borrowers to understand loan terms, total costs of loans, and estimated monthly repayments. Direct loans may not be issued to borrowers unless they acknowledge in writing that they have read the form.
What's happening now
Referred to the House Committee on Education and the Workforce.
Committees of jurisdiction
1