3.0.0 2081 2023-01-11T13:39:24Z 2023-01-11T13:39:24Z Senate S 2017-11-06 115 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2017-11-06T22:20:33Z PROSPER Act 115 4508 HR 2018-02-08 Placed on the Union Calendar, Calendar No. 413. Related bill CRS AID Act 115 5550 HR 2018-05-22 Referred to the Subcommittee on Nutrition. Related bill CRS Financial Literacy to Financial Freedom Act 115 1193 HR 2017-02-16 Referred to the House Committee on Education and the Workforce. Related bill CRS Empowering Students Through Enhanced Financial Counseling Act 115 1635 HR 2018-09-06 Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS 2017-11-06 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2017-11-06 Introduced in Senate IntroReferral 10000 9 Library of Congress W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. N H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV 2017-11-06 True K000384 Sen. Kaine, Tim [D-VA] Timothy Kaine D VA M. 2017-11-06 True G000562 Sen. Gardner, Cory [R-CO] Cory Gardner R CO 2017-11-06 True S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2018-09-17 False Education Consumer affairs Educational guidance Government information and archives Government lending and loan guarantees Government studies and investigations Higher education Interest, dividends, interest rates School administration Student aid and college costs Education 00 2017-11-06 Introduced in Senate 2018-08-10T22:41:38Z Empowering Students Through Enhanced Financial Counseling Act

This bill amends the Higher Education Act of 1965 to modify loan counseling requirements applicable to institutions of higher education (IHEs).

Currently, an IHE must provide entrance counseling to a student who is a first-time federal student loan borrower. This bill replaces required entrance counseling with required annual financial counseling concerning information on the terms, conditions, and responsibilities of the grant or loan. Also, it expands the required recipients of such annual counseling to include, in addition to student borrowers, Pell Grant recipients and parent PLUS Loan borrowers.

Additionally, the bill revises, expands, or establishes specific annual counseling information requirements for student borrowers, Pell Grant recipients, or parent PLUS Loan borrowers.

The bill revises and expands exit counseling information requirements for borrowers to include an outstanding loan balance summary, the anticipated monthly payments under standard and income-based repayment plans, an explanation of the grace period preceding repayment, the option to pay accrued interest before it capitalizes, the right to request an annual credit report, and loan servicer contact information.

It directs the Department of Education to maintain a consumer-tested online counseling tool that provides annual and exit counseling.

The Institute of Education Sciences must study the impact and effectiveness of exit counseling, annual counseling, and the online counseling tool.

]]> Empowering Students Through Enhanced Financial Counseling Act Display Title Empowering Students Through Enhanced Financial Counseling Act Short Titles as Introduced Empowering Students Through Enhanced Financial Counseling Act Official Title as Introduced A bill to amend the loan counseling requirements under the Higher Education Act of 1965, and for other purposes. Introduced in Senate 2017-11-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2081is/xml/BILLS-115s2081is.xml 2017-11-06 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.