Empowering Students Through Enhanced Financial Counseling Act

[AI summary unavailable — showing source text] Empowering Students Through Enhanced Financial Counseling Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide annual (currently, entrance) counseling to student borrowers under the William D. Ford Federal Direct Loan program, beginning at or prior to the student's acceptance of the loan. Requires that counseling to be conducted in person, online, or through the use of an online counseling tool maintained by the Secretary of Education. Adds to the information such counseling shall provide: an explanation that the borrower is not required to accept the full amount of the loan; an explanation that the borrower should consider accepting any grant, scholarship, or state or federal work-study jobs for which the borrower is eligible before accepting federal student loans; a recommendation to exhaust the borrower's federal student loan options prior to taking out private loans which may not offer as favorable terms and repayment options as federal student loans; an explanation of the educational expenses Direct Loans cover; information on the annual and aggregate limits on such loans; and information r…