House Bill 4119
115th Congress(2017-2018)
Student Loan Disclosure Modernization Act
Introduced
Introduced in House on Oct 25, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4119
Congress
115
Policy Area
Education
Education
Primary focus of measure is elementary, secondary, or higher education including special education and matters of academic performance, school administration, teaching, educational costs, and student aid.
No House votes have been held for this bill.
Summary
Student Loan Disclosure Modernization Act
This bill amends the Higher Education Act of 1965 to require the student loan disclosure forms under the Federal Family Education Loan Program to include the annual percentage rate applicable to the loan.
In addition, the bill requires the student loan disclosure forms under the William D. Form Federal Direct Loan Program to be written in plain language to enable borrowers to understand loan terms, total costs of loans, and estimated monthly repayments. Direct loans may not be issued to borrowers unless they acknowledge in writing that they have read the form.
October 25, 2017
10/25/2017
Referred to the House Committee on Education and the Workforce.
10/25/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:38:23 PM