HOUSE 2874117th CongressReferred to the House Committee on Education and Labor.
Student Loan Disclosure Modernization Act
- Last Action
- 4/28/2021
Actions
- 2021-04-28Referred to the House Committee on Education and Labor.
- 2021-04-28Introduced in House
- 2021-04-28Introduced in House
CRS Summary
As of 2021-04-28 (00)
Student Loan Disclosure Modernization Act
This bill requires loan disclosure forms for federal student loans to be written in plain language, thus enabling borrowers to understand loan terms, total costs of loans, and estimated monthly repayments. Borrowers must acknowledge in writing that they have read the form before the loans are issued.
Cosponsors (3)
- Jim Banks (R-IN)
- Lisa McClain (R-MI)
- Tom Rice (R-SC)
Subjects
- Congressional oversight
- Higher education
- Interest, dividends, interest rates
- Student aid and college costs
Sourced from Congress.gov (public domain).
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