Empowering Student Borrowers Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Dec 13, 2017)
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 just happenedDec 13, 2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Who’s behind it
- Introduced in SenateDec 13, 2017
- Dec 13, 2017IntroReferral
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Health, Education, Labor, and Pensions Committee - Dec 13, 2017IntroReferral10000
Introduced in Senate