Pipeline · Bill → Law
Step 1
Introduced
Feb 27, 2023
Step 2
Referred
Feb 27, 2023
Education and Workforce
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill expands lender disclosure requirements and revises loan counseling requirements. First, the bill requires a lender to provide a quarterly statement to a Federal Family Education Loan or Direct Loan borrower during a period when loan payments are not required. The statement must include specified information on the loan and interest amounts and explain the option to pay accrued interest while in deferment or forbearance. In addition, the bill requires an institution of higher education (IHE) that participates in federal student-aid programs to provide pre-loan counseling to a student borrower of a federal student loan upon or prior to the first disbursement of each new loan. Curre...
Timeline · 3 actions
Mar 1, 2023
Sponsor introductory remarks on measure.
Feb 27, 2023
Introduced in House
Feb 27, 2023
Referred to the House Committee on Education and the Workforce.