H.R. 1193
Referred to CommitteeFinancial Literacy to Financial Freedom Act
Latest Action
Referred to the House Committee on Education and the Workforce.
2/16/2017 • House
Summary
Financial Literacy to Financial Freedom Act
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify loan counseling requirements for an institution of higher education (IHE) that participates in federal student aid programs.
Currently, an IHE must provide one-time entrance counseling to a student who is a first-time Direct Loan (DL) program borrower. This bill allows an IHE to require any student DL program borrower to complete additional counseling on the terms, conditions, and responsibilities of a loan at or prior to its disbursement.
Additionally, it requires an IHE to ensure that student and parent DL program borrowers annually accept a loan affirmatively prior to the first disbursement of such loan.
Introduced in House • 2/16/2017
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Bill Journey
Originated in the House
Introduced
February 16, 2017
Referred to the House Committee on Education and the Workforce.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law