II
117th CONGRESS
2d Session
S. 3865
IN THE SENATE OF THE UNITED STATES
March 17, 2022
Ms. Ernst (for herself, Mr. Grassley, and Mr. Johnson) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions
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.
Short title
This Act may be cited as the Student Transparency for Understanding Decisions in Education Net Terms Act
or the STUDENT Act
.
Interest disclosure
Section 433(a) of the Higher Education Act of 1965 (20 U.S.C. 1083(a)) is amended—
by redesignating paragraphs (18) and (19) as paragraphs (19) and (20), respectively; and
by inserting after paragraph (17) the following:
the total amount of interest that would be paid over the life of the loan based on a standard 10-year repayment plan;
.
