118 HR 1125 IH: Student Transparency for Understanding Decisions in Education Net Terms Act U.S. House of Representatives 2023-02-21 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.

I118th CONGRESS1st SessionH. R. 1125IN THE HOUSE OF REPRESENTATIVESFebruary 21, 2023Mr. Feenstra (for himself, Mrs. Miller-Meeks, and Mr. Nunn of Iowa) introduced the following bill; which was referred to the Committee on Education and the WorkforceA BILLTo require disclosure of the total amount of interest that would be paid over the life of a loan for certain Federal student loans.

1.

Short title

This Act may be cited as the Student Transparency for Understanding Decisions in Education Net Terms Act or the STUDENT Act.

2.

Interest disclosure

Section 433(a) of the Higher Education Act of 1965 (20 U.S.C. 1083(a)) is amended—(1)by redesignating paragraphs (18) and (19) as paragraphs (19) and (20), respectively; and(2)by inserting after paragraph (17) the following:(18)the total amount of interest that would be paid over the life of the loan based on a standard 10-year repayment plan;.