Student Loan Disclosure Modernization Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 25, 2017)
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 just happenedOct 25, 2017
Referred to the House Committee on Education and the Workforce.
Who’s behind it
- Introduced in HouseOct 25, 2017
- Oct 25, 2017IntroReferralH11100
Referred to the House Committee on Education and the Workforce.
Education and the Workforce Committee - Oct 25, 2017IntroReferralIntro-H
Introduced in House
- Oct 25, 2017IntroReferral1000
Introduced in House