US S2224

Bill

US S2224

Empowering Student Borrowers Act

Introduced
12/13/2017

In Committee
12/13/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Empowering Student Borrowers Act

AI Summary

This bill, the Empowering Student Borrowers Act, aims to establish best practices for teaching financial literacy and provide an annual estimate of student borrowing costs. It requires the Secretary of Education to establish best practices for institutions of higher education on methods to teach financial literacy skills and provide information to assist students in making financial decisions related to student borrowing. The bill also requires eligible institutions to provide an annual estimate to each enrolled student who receives an education loan, including the cumulative balance of loans owed, projected monthly payment amounts, and information on interest rates. The Secretary of Education is also required to provide institutions with information on the expected amount of loans to be disbursed and the projected cumulative balance and monthly payment amounts for those loans.

Committee Categories

Health and Social Services

Sponsors (3)

Joe Donnelly (D)*, Ron Johnson (R), Amy Klobuchar (D),

Last Action

Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 12/13/2017)

Official Document

https://www.congress.gov/bill/115th-congress/senate-bill/2224/all-info

(4 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/senate-bill/2224/all-info
BillText	https://www.congress.gov/115/bills/s2224/BILLS-115s2224is.pdf
Bill	https://www.congress.gov/115/bills/s2224/BILLS-115s2224is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR1429	LEADS Act of 2017 Letter of Estimated Annual Debt for Students Act of 2017	Referred to the House Committee on Education and the Workforce.	Related
HR5277	Financial Literacy College Education Act	Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HRes905	Providing for consideration of the bill (H.B. 5515) to authorize appropriations for fiscal year 2019 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes; providing for consideration of the bill (S. 204) to authorize the use of unapproved medical products by patients diagnosed with a terminal illness in accordance with State law, and for other purposes; and providing for consider	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S2155	Economic Growth, Regulatory Relief, and Consumer Protection Act	Became Public Law No: 115-174.	Related

Bill > S2224

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary