HR 4119 · 115th Congress · Education

Student Loan Disclosure Modernization Act

Introduced 2017-10-25· Sponsored by Rep. Messer, Luke [R-IN-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Education and the Workforce.(2017-10-25)

Plain Language Summary

[AI summary unavailable — showing source text] Student Loan Disclosure Modernization Act This bill amends the Higher Education Act of 1965 to require the student loan disclosure forms under the Federal Family Education Loan Program to include the annual percentage rate applicable to the loan. In addition, the bill requires the student loan disclosure forms under the William D. Form Federal Direct Loan Program to be written in plain language to enable borrowers to understand loan terms, total costs of loans, and estimated monthly repayments. Direct loans may not be issued to borrowers unless they acknowledge in writing that they have read the form.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (14)

1 Democrat13 Republicans
Rep. Cleaver, Emanuel [D-MO-5]MO
Rep. Hultgren, Randy [R-IL-14]IL
Rep. Ferguson, A. Drew, IV [R-GA-3]GA
Rep. Garrett, Thomas A., Jr. [R-VA-5]VA
Rep. Brooks, Susan W. [R-IN-5]IN
Rep. Lewis, Jason [R-MN-2]MN
Rep. Stefanik, Elise M. [R-NY-21]NY
Rep. Mitchell, Paul [R-MI-10]MI
Rep. Ross, Dennis A. [R-FL-15]FL
Rep. Hunter, Duncan D. [R-CA-50]CA
Rep. Banks, Jim [R-IN-3]IN
Rep. Bucshon, Larry [R-IN-8]IN
Rep. Rokita, Todd [R-IN-4]IN
Rep. Yoder, Kevin [R-KS-3]KS