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Senate Bill 749
115th Congress(2017-2018)
Transparency in Student Lending Act
Introduced
Introduced
Introduced in Senate on Mar 28, 2017
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Introduced in Senate 
Mar 28, 2017
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Introduced in Senate(Mar 28, 2017)
Mar 28, 2017
Not Scanned for Linkage
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 749 (Introduced-in-Senate)


115th CONGRESS
1st Session
S. 749


To amend the Higher Education Act of 1965 to require the disclosure of the annual percentage rates applicable to Federal student loans.

IN THE SENATE OF THE UNITED STATES

March 28, 2017

Mr. Enzi introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions

A BILL

To amend the Higher Education Act of 1965 to require the disclosure of the annual percentage rates applicable to 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 “Transparency in Student Lending Act”.

SEC. 2. Required disclosures.

Section 455(p) of the Higher Education Act of 1965 (20 U.S.C. 1087e(p)) is amended—

(1) by striking “Each institution” and inserting the following:

“(1) IN GENERAL.—Each institution”; and

(2) by adding at the end the following:

“(2) DISCLOSURE OF APR PRIOR TO DISBURSEMENT.—In addition to the disclosures required under paragraph (1), each institution and contractor described in such paragraph shall disclose to a borrower before disbursement of a loan made under this part, in writing and in a form the borrower may keep, the annual percentage rate applicable to the loan, taking into account—

“(A) the amount of the loan;

“(B) the stated interest rate of the loan;

“(C) the standard term for a loan of the same type;

“(D) any fees or additional costs associated with the loan; and

“(E) any capitalization of interest on the loan.”.