[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 469 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                 S. 469

  To require disclosure of the total amount of interest that would be 
    paid over the life of a loan for certain Federal student loans.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 16, 2023

  Ms. Ernst (for herself, Mr. Grassley, Mr. Johnson, Ms. Hassan, Mr. 
 Manchin, and Mr. Kaine) introduced the following bill; which was read 
 twice and referred to the Committee on Health, Education, Labor, and 
                                Pensions

_______________________________________________________________________

                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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;''.
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