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US S469
US S469STUDENT Act Student Transparency for Understanding Decisions in Education Net Terms Act
summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to require disclosure of the total amount of interest that would be paid over the life of a loan for certain Federal student loans.
AI Summary
This bill, known as the Student Transparency for Understanding Decisions in Education Net Terms Act (STUDENT Act), requires the disclosure of the total amount of interest that would be paid over the life of a loan for certain federal student loans. Specifically, the bill amends the Higher Education Act of 1965 to add a new requirement for lenders to inform borrowers of the total interest that would be paid under a standard 10-year repayment plan. This information aims to provide students with a better understanding of the long-term financial implications of their student loan decisions.
Committee Categories
Health and Social Services
Sponsors (7)
Joni Ernst (R)*,
Chuck Grassley (R),
Maggie Hassan (D),
Ron Johnson (R),
Tim Kaine (D),
Joe Manchin (I),
Jacky Rosen (D),
Last Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 02/16/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/469/all-info |
| BillText | https://www.congress.gov/118/bills/s469/BILLS-118s469is.pdf |
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