S 1464
117th Congress
Senate
Education
Congressional oversight
Higher education
Interest, dividends, interest rates
Student aid and college costs
Student Loan Disclosure Modernization Act
Introduced: April 29, 2021
Introduced by:
Scott, Tim
Republican
· South Carolina
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 29, 2021
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Apr 29, 2021
Introduced in Senate
Plain-English summary
Student Loan Disclosure Modernization Act
This bill requires loan disclosure forms for federal student loans to be written in plain language, thus enabling borrowers to understand loan terms, total costs of loans, and estimated monthly repayments. Borrowers must acknowledge in writing that they have read the form before the loans are issued.
What's happening now
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Committees of jurisdiction
1