Empowering Student Borrowers Act
Latest action · Dec 13, 2017 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedDec 13, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 2
Members who signed on, in the order they did. All signed on Dec 13, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Amy Klobuchar | Original | Dec 13, 2017 |
| R-WI | Ron Johnson | Original | Dec 13, 2017 |
Actions 2
Everything that happened, newest first.
- Dec 13, 2017Introduced in Senate
- Dec 13, 2017Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1429 | LEADS Act of 2017 | Related bill | Mar 8, 2017 |
| S 2155 | Economic Growth, Regulatory Relief, and Consumer Protection Act | Related bill | May 24, 2018 |
| HR 5277 | Financial Literacy College Education Act | Related bill | Mar 14, 2018 |
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- Dec 13, 2017Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.