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H.R. 7964 (117th): STUDENT Act

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The text of the bill below is as of Jun 7, 2022 (Introduced). The bill was not enacted into law.

I

117th CONGRESS

2d Session

H. R. 7964

IN THE HOUSE OF REPRESENTATIVES

June 7, 2022

introduced the following bill; which was referred to the Committee on Education and Labor

A BILL

To require disclosure of the total amount of interest that would be paid over the life of a loan for certain Federal student loans.

1.

Short title

This Act may be cited as the Student Transparency for Understanding Decisions in Education Net Terms Act or the STUDENT Act.

2.

Interest disclosure

Section 433(a) of the Higher Education Act of 1965 (20 U.S.C. 1083(a)) is amended—

(1)

by redesignating paragraphs (18) and (19) as paragraphs (19) and (20), respectively; and

(2)

by inserting after paragraph (17) the following:

(18)

the total amount of interest that would be paid over the life of the loan based on a standard 10-year repayment plan;

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