S. 2224
Referred to CommitteeEmpowering Student Borrowers Act
Latest Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
12/13/2017 • Senate
Summary
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.
Introduced in Senate • 12/13/2017
Topics & Subjects
Congressional Votes (0)
No recorded votes yet
Roll call votes will appear here as the bill moves through Congress
Related Federal Spending
Sponsor & Cosponsors (3)
Party Breakdown
Sponsor
Cosponsors (2)
Bill Journey
Originated in the Senate
Introduced
December 13, 2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law