Senate Bill 2224
115th Congress(2017-2018)
Empowering Student Borrowers Act
Introduced
Introduced in Senate on Dec 13, 2017
Origin Chamber
Senate
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
2224
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 Senate votes have been held for this bill.
Summary
Empowering Student Borrowers Act
This bill amends the Higher Education Act of 1965 to direct the Department of Education to establish best practices for institutions of higher education (IHEs) regarding methods to: (1) teach financial literacy skills, and (2) provide information to assist students when making financial decisions related to student borrowing.
In addition, the bill requires an IHE that participates in federal student aid programs to provide an annual estimate of borrowing costs to each enrolled student who receives an education loan. The cost estimate must include the student's cumulative education loan balance, projected monthly payment amount, and interest rate on each loan.
December 13, 2017
12/13/2017
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
12/13/2017
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:39:07 PM