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S 2224 115th Congress Senate Education Financial literacy Government information and archives Higher education Interest, dividends, interest rates Student aid and college costs Student records

Empowering Student Borrowers Act

Introduced: December 13, 2017 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 13, 2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Dec 13, 2017
Introduced in Senate
 Plain-English summary Congressional Research Service

Empowering Student Borrowers Act

This bill amends the Higher Education Act of 1965 to direct the Department of Education to establish best practices for institutions of higher education (IHEs) regarding methods to: (1) teach financial literacy skills, and (2) provide information to assist students when making financial decisions related to student borrowing.

In addition, the bill requires an IHE that participates in federal student aid programs to provide an annual estimate of borrowing costs to each enrolled student who receives an education loan. The cost estimate must include the student's cumulative education loan balance, projected monthly payment amount, and interest rate on each loan.

What's happening now December 13, 2017

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

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1