Legislative Tracker Archive: Consumer Information & Transparency

Legislative TrackerOn this page, you'll find previous proposals to increase families' awareness of financial aid availability and requirements, as well as costs associated with attendance. Use these links to jump to a specific session of Congress.

116th Session of Congress

 

H.R.6756 - End Pandemic Hunger for College Students Act of 2020

Sponsor: Rep. Fudge [D-OH]  
Cosponsors: 2 (2D; 0R)
Introduced: 05/08/2020
NASFAA Summary & Analysis: This bill would modify the eligibility standards applicable to low-income college students under the Food and Nutrition Act of 2008 during COVID–19 public health emergency.

S.3745 - Coronavirus Emergency Borrower Defense Act of 2020

Sponsor: Sen. Durbin [D-IL] 
Cosponsors: 2 (2D; 0R)
Introduced: 05/14/2020 
NASFAA Summary & Analysis: This bill provides relief to borrowers of student loans who have been misrepresented by institutions. An eligible borrower, or parent borrower who took out an eligible loan on behalf of an eligible borrower, shall be entitled to loan relief on. 

H.R.5768 - Accreditation Reform Act of 2020

Sponsor: Rep. Trahan [D-MA]
Cosponsors: 2 (2D; 0R)
Introduced: 02/06/2020
NASFAA Summary: This bill would increase the National Advisory Committee on Institutional Quality and Integrity's role in the review process of approved accrediting agencies as well as allow NACIQI members to take part in site visits conducted by ED. Under the bill ED would also be required to make public for comment any accreditation agency petitions for recognition. Included with the petition would be the agency's record of investigations, lawsuits settlements or adverse judgments for any violation relating to fraud or abuse to students enrolled at an institution the accrediting agency has previously accredited. 

 

S.3115 - Time For Completion Act

Sponsor: Sen. Enzi [R-WY]
Cosponsors: 2 (0D; 2R)
Introduced: 12/19/2019
NASFAA Summary & Analysis: This bill would require community colleges to report graduation rates. It would include data such as the percentage of first-time and non-first time, full-time and part-time, degree- or certificate-seeking undergraduate students enrolled at the institution who obtain a degree or certificate within each of the times for completion or graduation. 

 

H.R.4648 - Transparency in Off-Campus Housing Act

Sponsor: Rep. Horsford [D-NV]
Cosponsors: 1 (1D; 0R)
Introduced: 10/11/2019
NASFAA Summary & Analysis: This bill would allow ED to regulate how school calculate room and board for students living with parents or living off-campus. Regulations of the bill would require a waiver to allow institutions to diverge from the regulated methodology but those institutions would still need to provide their methodology for their calculation, and be able to demonstrate that they are using reliable information. 

 

H.R.4637 - Opportunity to Address College Hunger Act

Sponsor: Rep. Bonamici [D-OR]
Cosponsors: 1 (1D; 0R)
Introduced: 10/11/2019
NASFAA Summary & Analysis: This bill aims to address student hunger on college campuses by enabling eligible students with the information and resources needed to apply for the Supplemental Nutrition Assistance Program (SNAP) as well as encourage the federal government, states and institutions to be more proactive in their effort to address student hunger. The bill would also create a college student hunger demonstration pilot program that will test models that allow students to use SNAP to purchase food from university dining halls. 

 

H.R.4587 - Truth in Tuition Act of 2019

Sponsor: Rep. Cartwright [D-PA]
Cosponsors: 11 (9D; 2R)
Introduced: 10/01/2019
NASFAA Summary & Analysis: This bill would mandate that institutions provides to each admitted students regardless of level a multi-year tuition and fee schedule or a single-year tuition and fee schedule with a nonbinding multi-year estimate of net costs after all financial aid is awarded. 

 

H.R.4430 - Clean Data in Higher Education Act

Sponsor: Rep. Trahan [D-MA]
Cosponsors: (0)
Introduced: 09/20/2019
NASFAA Summary & Analysis: The Clean Data in Higher Education Act would aim to improve data in the higher education system by eliminating data mismatches, and cleaning up good data. Under this bill, each institution of higher education would be assigned a unique numeric identifier to be used to report and disaggregate data.

 

H.R.4241 - Student Loan Contract Act of 2019

Sponsor: Rep. Underwood [D-IL]
Cosponsors: 2 (2D; 0R)
Introduced: 09/06/2019
NASFAA Summary & Analysis: The Student Loan Contract Act of 2019 would mandate changing renaming the current master promissory note to a "student loan contract".

 

H.R.4193 - Student Loan Disclosure Transparency Act of 2019

Sponsor: Rep. Shalala [D-FL]
Cosponsors: 5 (2D; 3R)
Introduced: 08/16/2019
NASFAA Summary & Analysis: This bipartisan student loan transparency bill would both increase the frequency with which students are provided federal loan disclosures, and add a number of items to the existing list of what servicers must disclose. The bill would also require servicers to add to the pre-repayment disclosure the projected monthly payment amount and the cost of allowing interest to capitalize versus paying interest as it accrues. In addition, the bill also makes several changes to disclosures required during repayment, the first of which is to have these disclosures begin within thirty days of disbursement and to be issued monthly, regardless of whether a payment is due.

 

S.2405 - Christopher Bryski Student Loan Protection Act

Sponsor: Sen. Menendez [D-NJ]
Cosponsors: 4 (4D; 0R)
Introduced: 07/31/2019
NASFAA Analysis & Coverage: This bill would require more transparent disclosures by private education loan lenders. The bill would require private education loan lenders to disclose, clearly and conspicuously, a borrower's and co-signer's obligations in the event of each other's death, disability, or inability to engage in any substantial gainful activity. It would prohibit the lender from automatically declaring a performing loan to be in default or take other adverse action if such circumstances arise. It would also require private education loan lenders to automatically release co-signers from their obligations if certain conditions are met.

 

S.2225 - BASIC Act

Sponsor: Sen. Harris [D-CA]
Cosponsors: 2 (2D; 0R)
Introduced: 07/23/2019
NASFAA Analysis & Coverage: This bill would require the Department of Education to identify students who may be eligible for public assistance and connect them to those programs. The bill would also create a grant to help institutions identify students who could benefit from public assistance programs. The BASIC Act would define basic needs as food, housing, transportation, child care, health care and technology.

 

H.R.3761 - Protecting Access to Student Transcripts Act of 2019

Sponsor: Rep. Lee [D-NV]
Cosponsors: 4 (3D; 1R)
Introduced: 07/15/2019
NASFAA Analysis & Coverage: This bill would no longer allow institutions to bar students from receiving their academic transcripts if they have defaulted on their student loans.

 

S.2114 - ISA Student Protection Act of 2019

Sponsor: Sen. Young [R-IN]
Cosponsors: 3 (2D; 1R)
Introduced: 07/15/2019
NASFAA Analysis & Coverage: This bill would legislation that would establish guidelines and add consumer protections to income-share agreements (ISAs), which are gaining attention as alternatives to traditional student loans, but are currently unregulated. The bill establishes that ISAs are not considered credit, and that ISA providers are not considered creditors, as those terms are defined in the Truth In Lending Act (TILA). Therefore, disclosure and timing requirements under TILA do not apply. The bill sets a minimum income (200% of the Federal Poverty Level), below which ISA recipients would not be required to make payments based on a percentage of their income. The bill specifies that neither funding received through ISAs nor any difference between the ISA amount received and the amount ultimately repaid would be considered taxable income. It also specifies that amounts received from ISAs are not considered income or assets for the purposes of calculating the Expected Family Contribution. 

 

H.R.3354 - Time for Completion Act

Sponsor: Rep. Fudge, Marcia L. [D-OH]
Cosponsors: 1 (1 R; 0 D)
Introduced: 06/19/2019
NASFAA Analysis & Coverage: This bill would require institutions to report the percentage of students who complete their program on time, 150 percent of the normal time, 200 percent of the normal time, and 300 percent of the normal time. This information would be desegregated by program and type of student.

 

H.R.3487 - PRO Students Act

Sponsor: Rep. Takano, Mark [D-CA]
Cosponsors: 0
Introduced: 06/25/2019
NASFAA Analysis & Coverage: This bill addresses several issues regarding institutional accountability and consumer protections. The bill seeks to reform the 90-10 rule to 85-15, establish a Proprietary Education Oversight Coordination Committee, and restrict the usage of federal student aid dollars to fund institutional marketing and recruitment. The bill would require institutions to deliver a disclosure statement to students before they complete a Master Promissory Note (MPN).

 

H.R.3519 - Better Service to Borrowers Act of 2019

Sponsor: Rep. Schrier, Kim [D-WA]
Cosponsors: 3 (0 R; 3 D)
Introduced: 06/26/2019
NASFAA Analysis & Coverage: This bill seeks to establish a standardized manual for loan servicers to ensure quality of servicing.

 

S.2015 - Student Loan Disclosure Modernization Act

Sponsor: Sen. Scott, Tim [R-SC]
Cosponsors: 1 (0 R; 1 D)
Introduced: 06/27/2019
NASFAA Analysis & Coverage: This bill would establish a plain language disclosure form for student borrowers.

 

H.R.3547 - Students and Young Consumers Empowerment Act

Sponsor: Rep. Bonamici, Suzanne [D-OR]
Cosponsors: 1 (0 R; 1 D)
Introduced: 6/27/019
NASFAA Analysis & Coverage: This bill would establish the position of Assistant Director and Student Loan Borrower Advocate of the Bureau of Consumer Financial Protection, and establish the Office for Students and Young Consumers of the Bureau.

 

H.R.2321 - Understanding the True Cost of College Act of 2019

Sponsor: Rep. Van Drew (D-NJ)
Cosponsors: 0 (0 R; 0 D)
Introduced: 04/12/2019
NASFAA Analysis & Coverage: This bill would mandate standard terminology and a standard format for financial aid award offers.

 

H.R.2129 - Empowering Students Through Enhanced Financial Counseling Act

Sponsor: Rep. Guthrie (R-KY)
Cosponsors: 1 (0 R; 1 D)
Introduced: 04/08/2019
NASFAA Analysis & Coverage: The bill would change the current one-time entrance counseling requirement for student loans and Pell Grants into an annual counseling requirement.

 

H.R.2006 - College Equity Act of 2019

Sponsor: Rep. Shalala (D-FL)
Cosponsors: 15 (0 R; 15 D)
Introduced: 04/01/2019
NASFAA Analysis & Coverage: This bill would establish a competitive grant program for institutions of higher education to address inequities by identifying and correcting disparities. The bill also requires higher education accrediting agencies to assess the findings of equity audits of institutions they oversee and provide related technical assistance and support.

 

S.889 - Net Price Calculator Improvement Act

Sponsor: Sen. Grassley (R-IA)
Co-Sponsors: 2 (1 R; 1 D)
Introduced: 03/27/2019
NASFAA Analysis & Coverage: This bill would allow the creation of a centralized website to allow students to compare estimates of their net price for individual institutions across multiple colleges at once.

 

S.888 - Understanding the True Cost of College Act

Sponsor: Sen. Grassley (R-IA)
Co-Sponsors: 1 (1 R; 1 D)
Introduced: 03/27/2019
NASFAA Analysis & Coverage: This bill would mandate standard terminology and a standard format for financial aid award offers.

 

S.887- Know Before You Owe Federal Student Loan Act

Sponsor: Sen. Grassley (R-IA)
Co-Sponsors: 2 (1 R; 1 D)
Introduced: 03/27/2019
NASFAA Analysis & Coverage: This bill would require entrance counseling, renamed "Pre-Loan Counseling," to be administered before the disbursement of each new loan in each award year. This bill would also create periodic disclosures, which would be sent to every loan borrower on a quarterly basis, which contain updated information on how much they've borrowed, any interest capitalization that has occurred and their individual borrower information.

 

S.800 - College Transparency Act

Sponsor: Sen. Cassidy (R-LA)
Co-Sponsors: 17 (9 R; 8 D)
Introduced: 03/14/2019
H.R.1766
Sponsor: Rep. Mitchell (R-MI)
Co-Sponsors: 12 (5 R; 7 D)
Introduced: 03/14/2019
NASFAA Analysis & Coverage: This bill would create a new "postsecondary student data system," thereby repealing the ban on the federal government from collecting student-level data. Supported by NASFAA, the bill aims to modernize the federal data reporting system, thereby reducing data reporting burdens on institutions. The data system would contain data elements related to student enrollment, persistence, retention, transfer, and completion measures. The bill contains several privacy provisions and includes prohibitions on the collection of certain information, including religion, course grades, and citizenship status, among others. Ultimately, the new data collection will be used to create a user-friendly portal for the public to compare institutions. The bill's provisions apply to all institutions of higher education that receive Title IV federal student aid.

 

S.720 - CFPB Student Loan Integrity and Transparency Act of 2019

Sponsor: Sen. Udall (D-NM)
Co-Sponsors: 11 (0 R; 11 D)
Introduced:03/07/2019
NASFAA Analysis & Coverage: This bill would require that the Department of Education provide data on Federal Direct Loans to the Consumer Financial Protection Bureau.

 

H.R.1565 - Student Right to Know Before You Go Act of 2019

Sponsor: Rep. Hunter (R-CA)
Co-Sponsors: 3 (2 R; 1 D)
Introduced: 03/06/2019
S.681
Sponsor: Sen. Wyden (D-OR)
Co-Sponsors: 2 (1 R; 1 D)
Introduced: 03/06/2019
NASFAA Analysis & Coverage: This bill would facilitate the creation of a "Higher Education Data System." In addition to all current IPEDS metrics, this system would collect data, such as the percentage of students receiving federal, state, institutional and private loans and grants, student completion rates, mean and median Federal loan debt, loan repayment rates at 2-, 6-, and 15-year intervals, information on transfer students, and drop percentages. The data would also look at different student groups such as, enrollment status, veteran status, Pell Grant status, gender, age, and first-generation status.

 

H.R.1571 - Debt-Free College Act of 2019

Sponsor: Rep. Pocan (D-WI)
Co-Sponsors: 32 (0 R; 32 D)
Introduced: 03/06/2019
S.672
Sponsor: Sen. Schatz (D-HI)
Co-Sponsors: 9 (0 R; 9 D)
Introduced: 03/06/2019
NASFAA Analysis & Coverage: This bill would create a State-Federal partnership program that aims to provide a debt-free college experience. This program would create a commitment to cover remaining unmet financial need for eligible students. To be eligible students would need to be enrolled at an eligible institution in the state they reside, complete the FAFSA and meet SAP requirements. This bill would authorize $84 billion to create the partnership program. In addition, the Debt-Free College Act would provide full Title IV eligibility for Dreamer students and repeal the suspension of Title IV aid for students with drug-related offenses.

 

H.R.1161 - Student Loan Disclosure Modernization Act

Sponsor: Rep. Cleaver (D-MO)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
02/13/2019
NASFAA Analysis & Coverage: This bill would require Direct Loan borrowers to acknowledge in writing that they have read a Plain Language Disclosure Form before receiving any new Direct Loan. The bill would require consumer testing of the form, and directs the Department of Education (ED) to consult with the Federal Reserve Board, which has a consumer-tested two-page model disclosure form for private loans. In developing its form, ED would also be required to consult with institutions, borrowers, and other student aid stakeholders.

 

S.234 - Transparency in Student Lending Act

Sponsor: Sen. Enzi (R-WY)
Co-Sponsors: 2 (2 R; 0 D)
Introduced: 01/28/2019
H.R.811
Sponsor:
Rep. Curtis (R-UT)
Co-Sponsors: 5 (5 R; 0 D)
Introduced: 01/28/2019
NASFAA Analysis & Coverage: This bill would require institutions and servicers of federal student loans to provide to borrowers, before the first disbursement of each loan, in addition to disclosure information already required related to loans, the annual percentage rate applicable to each loan the borrower receives must be provided.

 

H.R.63 - Student Loan Disclosure Modernization Act

Sponsor: Rep. Banks (R-IN)
Co-Sponsors: 0 (0 R; 0 D)
Introduced: 01/03/2019
NASFAA Analysis & Coverage: This bill would require Direct Loan borrowers to acknowledge in writing that they have read a Plain Language Disclosure Form before receiving any new Direct Loan. The bill would require consumer testing of the form, and directs the Department of Education (ED) to consult with the Federal Reserve Board, which has a consumer-tested two-page model disclosure form for private loans. In developing its form, ED would also be required to consult with institutions, borrowers, and other student aid stakeholders.

115th Session of Congress

 

Consumers First Act
HR 6972 Sponsor:
Rep. Waters (D-CA)
Co-Sponsors:
5 (0 R; 5 D)
Introduced:
9/28/2018 
NASFAA Analysis & Coverage: This bill would create an 'Office of Students and Young Consumers' within the Offices of the Consumer Financial Protection Bureau (CFPB) that would provide services to students, young people, and their families to help them make informed financial decisions regarding paying and saving for college. The office would also help to educate about financial products and services, including private education loans, and the rights and responsibilities borrowers have if they choose to take them. 
       
Aim Higher Act
HR 6543 Sponsor:
Rep. Scott (D-VA)
Co-Sponsors:
57 (0 R; 57 D)
Introduced:
7/26/2018 
NASFAA Analysis & Coverage: The Aim Higher Act is a comprehensive Higher Education Act (HEA) reauthorization bill with notable changes to the federal student aid programs. 
       
Transparency in Student Loan Consultation Act
HR 6473 Sponsor:
Rep. DeLauro (D-CT)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/23/2018
NASFAA Analysis & Coverage: The bill would require institutions and third-party servicers to include, in any repayment-related information provided to borrowers, an explanation of all available options due to the borrower's circumstances. In cases where borrowers have past-due payments or are requesting default prevention, aversion, or debt management counseling, institutions and third-party servicers would be required to provide information about the borrower's repayment status and schedule, as well as all options for making, scheduling, postponing, or reducing loan payments (including loan forgiveness, cancellation, deferment, and forbearance).  
       
Know Before You Owe Private Education Loan Act 
HR 6352 Sponsor:
Rep. Polis (D-CO)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/12/2018
S. 3205 Sponsor:
Sen. Durbin (D-IL)
Co-Sponsors:
5 (0 R; 5 D)
Introduced:
7/12/2018
NASFAA Analysis & Coverage: This piece of legislation would amend both the Higher Education Act and the Truth in Lending Act to require full institutional certification of all private student loans. The bills would require private lenders to obtain students' cost of attendance and outstanding need information directly from institutions — schools would then certify that the student applicant is enrolled or is scheduled to enroll at their institutions. In turn, institutions would provide borrowers with disclosures about their Title IV eligibility, information about the advantages of federal student loans and their terms, the impact of a private education loan, and the borrower's right to accept or reject private education loans. The bills would direct the CFPB and ED to report jointly to Congress on (1) compliance by both institutions and lenders, and (2) the degree to which specific institutions utilize certifications to effectively encourage the exhaustion of federal student loan eligibility and lower student private education loan debt. Finally, the bills would amend the Truth in Lending Act to exclude federal loans under Titles VII and VIII of the Public Health Service Act from the definition of a private education loan.  
 
REDUCE Act
HR 5916 Sponsor:
Rep. Reed (R-NY)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
5/22/2018
NASFAA Analysis & Coverage: This bill, the Reducing Excessive Debt and Unfair Costs of Education (REDUCE) Act, would require certain institutions to report cost of attendance and grant information for “working-family students,” and would add additional consumer information disclosures around endowment management, institutional aid, major donor gifts, and legacy status to the College Navigator. The legislation would impose a tax on the “wealthiest” institutions of higher education (defined as those with an aggregate endowment asset value of at least $500,000 per student) that fail to direct 25 percent of endowment growth value toward grants for “working-family students” (defined as those with a household income below 600 percent of the poverty line) each year. The bill would allocate tax receipts from this provision into the Federal Pell Grant Program. 
       
Help Students Vote Act
HR 5564 Sponsor:
Rep. Krishnamoorthi (D-IL)
Co-Sponsors:
6 (0 R; 6 D)
Introduced:
4/18/2018
S. 2699 Sponsor:
Sen. Booker (D-NJ)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
4/18/2018
NASFAA Analysis & Coverage: This piece of legislation would require institutions to distribute voter registration information not less than twice per year and at least 30 days in advance of the deadline for registering to vote within the State for the next scheduled Federal or State primary or general election. The bill would also require institutions to designate an individual on campus as the 'Campus Vote Coordinator.' The bill also includes enforcement action provisions should a school not comply with the requirements under the bill. 
 
AID Act
HR 5550 Sponsor:
Rep. DeFazio (D-OR)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
4/18/2018
NASFAA Analysis & Coverage: This bill, the Achieving Independence through Degrees (AID) Act, makes a number of changes to the federal student aid programs. The bill increases the Pell Grant maximum award to $9,970 and indexes the maximum award to inflation for subsequent award years. In addition, the bill expands Pell Grant eligibility to certain short-term programs and increases the semester eligibility limit to 15 semesters from 12. The bill would require annual loan counseling and uses the counseling language in the PROSPER Act; however, this bill would not require annual counseling for Pell Grant recipients. The bill eliminates the drug conviction provision for student eligibility and requires a financial aid shopping sheet as a nationwide standardized student aid award letter. Finally, the bill would allow certain students to qualify for SNAP based on EFC or certain dependency status questions. 
       
SCORE Act
HR 5110 Sponsor:
Rep. Price (D-NC)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
2/27/2018
NASFAA Analysis & Coverage: This bill, the Standardization of Collegiate Oversight of Revenues and Expenditures (SCORE) Act, would require institutions of higher education to report specific revenue and expense categories by each sports team. In addition, as part of the program participation agreement (PPA), a school may not be a member of any intercollegiate athletic association that does not also report several categories of revenue and expense information. 
       
Truth in Tuition Act
HR 4715 Sponsor:
Rep. Cartwright (D-PA)
Co-Sponsors:
13 (1 R; 12 D)
Introduced:
12/21/2017
NASFAA Analysis & Coverage: This bill would require institutions to provide to each admitted undergraduate or graduate student a multi-year tuition and fee schedule or a single-year tuition and fee schedule with a multi-year estimate of future costs. 
       
Empowering Student Borrowers Act
S. 2224 Sponsor:
Sen. Donnelly (D-IN)
Co-Sponsors:
2 (1 R; 1 D)
Introduced:
12/13/2017
NASFAA Analysis & Coverage: This piece of legislation would require institutions to disclose to students an annual estimate of student loan borrowing costs (debt letter) for both federal and private loans (of which the institution is aware of). The estimates must include cumulative balances and projected monthly payments. Estimates must be provided to students in "hard copy format" on institutional letterhead by electronic mail and delivered separately from other disclosures in HEA. In addition, the bill would require the Department of Education to develop best practices for financial literacy.  
       
PROSPER Act
HR 4508 Sponsor:
Rep. Foxx (R-NC) 
Co-Sponsors:
21 (21 R; 0 D)
Introduced:
12/1/2017 
NASFAA Analysis & Coverage: The Promoting Real Opportunity, Success, and Prosperity through Education Reform (PROSPER) Act is a comprehensive Higher Education Act (HEA) reauthorization bill with notable changes to the federal student aid programs. 
Status: 12/13/2017: Passed House of Representatives Committee on Education and the Workforce
 
Christopher's Law
S. 2180 Sponsor:
Sen. Menendez (D-NJ)
Co-Sponsors:
3 (0 R; 3 D)
Introduced:
11/30/2017
NASFAA Analysis & Coverage: This bill would require private education loan lenders to disclose, clearly and conspicuously, a borrower's and cosigner's obligations in the event of each other's death, disability, or inability to engage in any substantial gainful activity.
 
Student Right to Know Before You Go Act
HR 4479 Sponsor:
Rep. Hunter (R-CA)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
11/29/2017
S. 2169 Sponsor:
Sen. Wyden (D-OR)
Co-Sponsors:
2 (1 R; 1 D)
Introduced:
11/29/2017
NASFAA Analysis & Coverage: This piece of legislation would require institutions to report post-graduation average annual earnings; rates of remedial enrollment, credit accumulation, and graduation; average cost (both before and after financial aid) of the program; and average debt accumulated. Data collected under the bill would be disaggregated and available in a data system based on educational program, educational institution, and employment sector. 
 
Student Loan Disclosure Modernization Act
HR 4119 Sponsor:
Rep. Messer (R-IN)
Co-Sponsors:
13 (12 R; 1 D)
Introduced:
10/25/2017
NASFAA Analysis & Coverage: This bill would require Direct Loan borrowers to acknowledge in writing that they have read a Plain Language Disclosure Form before receiving any new Direct Loan. The bill would require consumer testing of the form, and directs the Department of Education (ED) to consult with the Federal Reserve Board, which has a consumer-tested two-page model disclosure form for private loans. In developing its form, ED would also be required to consult with institutions, borrowers, and other student aid stakeholders.
       
Higher Education and Employment Transparency Act
HR 4048 Sponsor:
Rep. Carson (D-IN)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
10/12/2017
NASFAA Analysis & Coverage: This bill would require the Department of Education (ED) and institutions to provide a link to up-to-date information on Occupational Employment Statistics for prospective and current students. 
       
Reverse Transfer Efficiency Act
HR 3774 Sponsor:
Rep. Messer (R-IN)
Co-Sponsors:
7 (5 R; 2 D)
Introduced:
9/14/2017
NASFAA Analysis & Coverage: This bill would amend the General Education Provisions Act (GEPA) to allow institutions to release education records to an institution where a student was previously enrolled for the purpose of applying coursework and credits toward completion of a postsecondary credential, also known as "reverse transfer." Students would need to provide written consent prior to receiving such credential.
       
Know Before You Owe Federal Student Loan Act
S. 1628 Sponsor:
Sen. Grassley (R-IA)
Co-Sponsors:
2 (1 R; 1 D)
Introduced:
7/25/2017
NASFAA Analysis & Coverage: This piece of legislation would require annual counseling for every newly disbursed loan. In this "pre-loan counseling," institutions would be required to estimate a borrower's debt-to-income ratio and share statements informing the borrower that she does not have to accept the full amount of loans for which she is eligible, among other requirements. Borrowers would be required to manually enter the exact dollar amount they intend to borrow, either in writing or through electronic means, after completing pre-loan counseling, but before certification and disbursement. In addition, students would receive regular statements about their loan balance from their servicer while in a period of deferment or forbearance, including while in school. 
       
Improving Access to Higher Education Act
HR 3199 Sponsor:
Rep. DeSaulnier (D-CA)
Co-Sponsors:
21 (0 R; 21 D)
Introduced:
7/12/2017
NASFAA Analysis & Coverage: This bill would require institutions to disclose in the Integrated Postsecondary Education Data System (IPEDS) data regarding students with disabilities, including total number of students with disabilities enrolled, number of students accessing or receiving accommodations, percentage of students with disabilities of all undergraduate students, and the total number of undergraduate certificates or degrees awarded to students with disabilities. The bill also includes provisions intended to improve higher education for students with disabilities through competitive grant programs. 
       
Educating Student Loan Borrowers Act
HR 3051 Sponsor:
Rep. Welch (D-VT)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
6/23/2017
NASFAA Analysis & Coverage: This bill would require federal loan servicers to disclose annually to borrowers a description of available repayment plans, options for public service employees, and loan forgiveness and cancelations options. The disclosures must be branded as from the Department of Education and must be consumer tested. 
       
Know Your Repayment Options Act
HR 2968 Sponsor:
Rep. Swalwell (D-CA)
Co-Sponsors:
13 (0 R; 13 D)
Introduced:
6/20/2017
NASFAA Analysis & Coverage: This bill would direct the Department of Education to provide all federal student loan borrowers with personalized repayment guides. The guides would be given to borrowers every year after receiving exit counseling until their federal loans are paid off. The guide described in the bill would tell borrowers their average anticipated monthly payment amount, yearly payment amount, lifetime payment amount, number of months remaining to pay off loans, amount that would be forgiven under all possible plans, and instructions for changing repayment plans.
       
REACH Act
HR 2926 Sponsor:
Rep. Meehan (R-PA)
Co-Sponsors:
23 (17 R; 6 D)
Introduced:
6/15/2017
NASFAA Analysis & Coverage: This bill, the Report and Educate About Campus Hazing (REACH) Act, would require institutions to include hazing incidents in the annual campus security report. In addition, institutions would be required to develop a hazing education program for students. 
       
RISE Act 
S. 1295 Sponsor:
Sen. Casey (D-PA)
Co-Sponsors:
3 (2 R; 1 D)
Introduced:
6/6/2017
HR 2782 Sponsor:
Rep. Bonamici (D-OR)
Co-Sponsors:
5 (2 R; 3 D)
Introduced:
6/6/2017
NASFAA Analysis & Coverage: This bill, the Respond, Innovate, Succeed, and Empower (RISE) Act, requires institutions, through their program participation agreement (PPA), to adopt several policies in support of students with disabilities, including publicly outlining the process by which an institution determines eligibility for accommodations. Institutions would also be required to report data about students with disabilities in federal postsecondary data collection efforts, including in the Integrated Postsecondary Education Data System (IPEDS). 
 
College Transparency Act 
S. 1121 Sponsor:
Sen. Hatch (R-UT)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
5/15/2017
HR 2434 Sponsor:
Rep. Mitchell (R-MI)
Co-Sponsors:
27 (14 R; 13 D)
Introduced:
5/16/2017
NASFAA Analysis & Coverage: This bill would create a new "postsecondary student data system," thereby repealing the ban on the federal government from collecting student-level data. Supported by NASFAA, the bill aims to modernize the federal data reporting system, thereby reducing data reporting burdens on institutions. The data system would contain data elements related to student enrollment, persistence, retention, transfer, and completion measures. The bill contains several privacy provisions and includes prohibitions on the collection of certain information, including religion, course grades, and citizenship status, among others. Ultimately, the new data collection will be used to create a user-friendly portal for the public to compare institutions. The bill's provisions apply to all institutions of higher education that receive Title IV federal student aid.
 
Tyler Clementi Higher Education Anti-Harassment Act 
HR 2151 Sponsor:
Rep. Pocan (D-WI)
Co-Sponsors:
51 (0 R; 51 D)
Introduced:
4/26/2017
S. 954 Sponsor:
Sen. Murray (D-WA)
Co-Sponsors:
20 (0 R; 19 D; 1 I)
Introduced:
4/26/2017
NASFAA Analysis & Coverage: This bill would require institutions to establish an anti-harassment policy prohibiting the harassment of enrolled students based on their actual or perceived race, color, national origin, sex, disability, sexual orientation, gender identity, or religion. Institutions would be required to distribute their anti-harassment policy to all students and employees, including prospective students and employees, upon request. In addition, the bill authorizes an anti-bullying higher education competitive grant program. 
 
Net Price Calculator Improvement Act  
S. 889 Sponsor:
Sen. Grassley (R-IA)
Co-Sponsors:
3 (0 R; 3 D)
Introduced:
4/7/2017
NASFAA Analysis & Coverage: This bill seeks to improve existing net price calculators (NPC) and permits the Department of Education to develop a consumer-tested universal NPC.   
 
Understanding the True Cost of College Act    
S. 888 Sponsor:
Sen. Grassley (R-IA)
Co-Sponsors:
6 (0 R; 6 D)
Introduced:
4/7/2017
NASFAA Analysis & Coverage: This bill would require a standardized financial aid award letter that includes cost of attendance, grant aid, net cost after subtracting grant aid, work study assistance, eligible amounts of federal student loans, expected federal loan monthly repayment amounts, and several disclosures.   
       
Empowering Students Through Enhanced Financial Counseling Act
HR 1635 Sponsor:
Rep. Guthrie (R-KY)
Co-Sponsors:
24 (19 R; 5 D)
Introduced:
3/20/2017
S. 2081 Sponsor:
Sen. Warner (D-VA)
Co-Sponsors:
3 (1 R; 2 D)
Introduced:
11/6/2017
NASFAA Analysis & Coverage: The bill would change the current one-time entrance counseling requirement for student loans and Pell Grants into an annual counseling requirement. 
Status: 9/5/2018: Passed House of Representatives 
       
LEADS Act
HR 1429 Sponsor:
Rep. Messer (R-IN)
Co-Sponsors:
9 (7 R; 2 D)
Introduced:
3/8/2017
NASFAA Analysis & Coverage: This bill, the Letter of Estimated Annual Debt for Students (LEADS) Act, would require schools to provide students with annual notices of student loan borrowing amounts. The notice would also include the cumulative balance of education loans owed by the student at that date, the amount of any new loans to be disbursed during the academic year, the projected cumulative balance of education loans that will be owed after graduation, and projected monthly payment amounts assuming a standard repayment plan. The U.S. Department of Education would create a template for schools to comply.
       
Transparency in Student Lending Act
HR 1283 Sponsor:
Rep. Hultgren (R-IL)
Co-Sponsors:
2 (1 R; 1 D)
Introduced:
3/1/2017
S. 749 Sponsor:
Sen. Enzi (R-WY)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
3/28/2017
NASFAA Analysis & Coverage: This bill would require institutions to disclose the annual percentage rate applicable to each federal student loan disbursed before disbursement. The annual percentage rate would include the amount of the loan, the stated interest rate of the loan, the standard term for a loan of the same type, any fees or additional costs associated with the loan, and any capitalization of interest on the loan. Disclosures must be provided "in writing" and "in a form the borrower may keep." 
       
Financial Literacy to Financial Freedom Act
HR 1193 Sponsor:
Rep. Trott (R-MI)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
2/16/2017
NASFAA Analysis & Coverage: The bill would allow institutions to mandate additional loan counseling. The counseling allowed in this bill would be in addition to current entrance counseling requirements. The bill would also require borrowers, including both parents and students, to sign a master promissory note, submit a written statement accepting the loan, or electronically sign a similar statement before loans can be disbursed.
 
Campus Gun Policy Transparency Act
HR 1079 Sponsor:
Rep. Ellison (D-MN)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
2/15/2017
NASFAA Analysis & Coverage: The bill would add information on campus firearm policies, specifically related to campus carry or open carry policies, to disclosures required for Clery Act compliance. In addition, institutions would be required to disclose these policies in a prominent location on their website and in admissions and recruitment materials.
       
Comprehensive Student Achievement Information Act
S. 351 Sponsor:
Sen. Hatch (R-UT)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
2/13/2017
Sponsor:
Rep. Love (R-UT)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
10/25/2017
NASFAA Analysis & Coverage: This bill expands disclosure requirements to also include the completion or graduation rates of non-first time and half-time certificate- or degree-seeking undergraduate students. The bill also sets forth new time periods for calculating the completion or graduation rates for programs of study that are less than four years.

 

114th Session of Congress

 

Simplifying Access to Student Loan Information Act
S. 445   Sponsor:
Sen. Shaheen (D-NH)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
2/10/2015
NASFAA Analysis & Coverage: This bill would require private educational lenders to submit information regarding each private education loan they make to the Department of Education through the National Student Loan Database System (NSLDS).
       
Saving Our Next Generation (SONG) Act
S. 473 Sponsor:
Sen. Udall (D-NM)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
2/12/2015
NASFAA Analysis & Coverage: This comprehensive children's health and education legislation includes a college affordability component. This component includes provisions relating to federal and private loan refinancing, the discharge of student loans in bankruptcy, entrance counseling, and a college affordability grant program. The bill would require students to complete an online assessment "demonstrating the student's understanding of the terms and conditions" of the loan the student seeks to borrow.
 
Student Loan Borrower Bill of Rights
S. 840    Sponsor:
Sen. Durbin (D-IL)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
3/23/2015
NASFAA Analysis & Coverage: This comprehensive legislation would require lenders to provide information and disclosures at designated points in the repayment process and adds certain servicing standards for both federal and private loans.
 
Student Right to Know Before You Go Act
S. 1195 Sponsor:
Sen. Wyden (D-OR)
Co-Sponsors:
4 (3 R; 1 D)
Introduced:
5/5/2015
HR 2518 Sponsor:
Rep. Hunter (R-CA, 50)
Co-Sponsors:
10 (6 R; 4 D)
Introduced:
5/21/2015
NASFAA Analysis & Coverage: This bipartisan legislation would require institutions to report Post-graduation average annual earnings; rates of remedial enrollment, credit accumulation, and graduation; Average cost (both before and after financial aid) of the program and average debt accumulated; The effects of remedial education and financial aid on credential attainment and a greater understanding of what student success can mean.
 
Strengthening Transparency in Higher Education Act   
HR 3178 Sponsor:
Rep. Foxx (R-NC, 5)
Co-Sponsors:
25 (13 R; 12 D)
Introduced:
7/23/2015
NASFAA Analysis & Coverage: The bill would eliminate the College Navigator in the place of a College Dashboard. It was introduced as part of a package of HEA bills introduced by Republicans on the House Education & the Workforce Committee.
Status: 7/11/2016: Passed House of Representatives
 
Empowering Students Through Enhanced Financial Counseling Act   
HR 3179 Sponsor:
Rep. Guthrie (R-KY, 2)
Co-Sponsors:
38 (19 R; 19 D)
Introduced:
7/23/2015
S. 3116 Sponsor:
Sen. Warner (D-VA)
Co-Sponsors:
3 (2 R; 1 D)
Introduced:
6/29/2016
NASFAA Analysis & Coverage: The bill would change the current one-time entrance counseling requirement for student loans and Pell Grants into an annual counseling requirement. It was introduced as part of a package of HEA bills introduced by Republicans on the House Education & the Workforce Committee.
Status: 7/11/2016: Passed House of Representatives
 
Christopher Bryski Student Loan Protection Act   
S. 1958 Sponsor:
Sen. Menendez (D-NJ)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
8/5/2015
HR 3474 Sponsor:
Rep. Pascrell (D-NJ, 9)
Co-Sponsors:
4 (0 R; 4 D)
Introduced:
9/10/2015
NASFAA Analysis & Coverage: This bill would require private education loan lenders to disclose, clearly and conspicuously, a borrower’s and cosigner's obligations in the event of each other’s death, disability, or inability to engage in any substantial gainful activity.   
       
Know Before You Owe Federal Student Loan Act   
S. 2043 Sponsor:
Sen. Grassley (R-IA)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
9/16/2015
NASFAA Analysis & Coverage: The legislation would enhance the loan counseling requirements for student borrowers. The measure requires annual counseling for every newly disbursed loan. In addition, students would receive regular statements about their loan balance while enrolled and would be required to manually enter the amount of money they intend to borrow on an annual basis.   
       
Understanding the True Cost of College Act    
S. 2149 Sponsor:
Sen. Grassley (R-IA)
Co-Sponsors:
1 (0 R; 1 D)
Introduced:
10/7/2015
NASFAA Analysis & Coverage: This bill would require a standardized financial aid award letter that includes cost of attendance, grant aid, net cost after subtracting grant aid, work study assistance, eligible amounts of federal student loans, expected federal loan monthly repayment amounts, and several disclosures.   
       
Net Price Calculator Improvement Act   
S. 2150 Sponsor:
Sen. Grassley (R-IA)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
10/7/2015
HR 4533 Sponsor:
Rep. Cummings (D-MD)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
2/11/2016
NASFAA Analysis & Coverage: This bill seeks to improve existing net price calculators (NPC) and permits the Department of Education to develop a consumer-tested universal NPC.   
       
Tuition Use Information Transparently Identified Online (TUITION) Act   
HR 4873 Sponsor:
Rep. Meehan (R-PA, 7)
Co-Sponsors:
3 (3 R; 0 D)
Introduced:
3/23/2016
NASFAA Analysis & Coverage: This piece of legislation would require colleges and universities to list the total dollars received from tuition and other fees and exactly how that revenue is used by the institution, particularly in context of the proportion applied toward "any type of institutional expense (such as faculty salaries or facility maintenance)." The information must be posted publicly on the school's website.   
       
Financial Literacy for Financial Aid Act   
HR 5016 Sponsor:
Rep. Salmon (R-AZ, 5)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
4/20/2016
NASFAA Analysis & Coverage: This bill would require additional loan entrance counseling for student borrowers. The legislation would require the Department of Education (ED) to develop a tool that contains all of the new requirements in a method that's freely available to institutions. The tool must be consumer tested and interactive and include components on basic finance concepts, taxes, retirement, banking, and financial goal-setting, among others.    
       
College Access Act Act   
S. 2859 Sponsor:
Sen. Franken (D-MN)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
4/27/2016
NASFAA Analysis & Coverage: This bill would create a federal grant program to states that agree to implement or prioritize need-based aid, enrollment of Pell-eligible students, adopting a common award letter, enhancing financial literacy, and increasing graduation rate reporting. Optional emphasis areas for states include  innovative learning models, open education resources (OERs), advanced placement (AP) examinations, dual enrollment, and remediation, among several other items.
       
Transparency in Taxpayer-Funded Discrimination Act
HR 5265 Sponsor:
Rep. Clark (D-MA, 5)
Co-Sponsors:
21 (0 R; 21 D)
Introduced:
5/17/2016
NASFAA Analysis & Coverage: This bill would require schools granted or seeking a religious exemption from HEA Title IX civil rights protections to publish several documents related to the exemption request as part of their consumer information disclosures on its website. 
       
Ensure Responsible Borrowing Act
HR 5481 Sponsor:
Rep. Salmon (R-AZ, 5)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
6/14/2016
NASFAA Analysis & Coverage: This bill would allow institutions to mandate additional loan counseling. The counseling allowed in this bill would be in addition to current entrance counseling requirements. The bill would also require borrowers to sign a master promissory note, submit a written statement accepting the loan, or electronically sign a similar statement before loans can be disbursed.
       
Letter of Estimated Annual Debt for Students (LEADS) Act
HR 5755 Sponsor:
Rep. Messer (R-IN, 6)
Co-Sponsors:
10 (7 R; 3 D)
Introduced:
7/13/2016
NASFAA Analysis & Coverage: This bill would require schools to provide students with annual notices of student loan borrowing amounts. The notice would also include the cumulative balance of education loans owed by the student at that date, the amount of any new loans to be disbursed during the academic year, the projected cumulative balance of education loans that will be owed after graduation, and projected monthly payment amounts assuming a standard repayment plan. 
       
Standardization of Collegiate Oversight of Revenues and Expenditures (SCORE) Act
HR 5791 Sponsor:
Rep. Price (D-NC, 4)
Co-Sponsors:
0 (0 R; 0 D)
Introduced:
7/14/2016
NASFAA Analysis & Coverage: This bill would require institutions of higher education to report revenue generated by each sports team. The reports schools submit would break down the different sources of revenue and expenses. The bill would also establish a task force of nonprofit and higher education accounting experts, professionals, and organizations to review the reports.
       
Transparency in Student Lending Act
HR 5838 Sponsor:
Rep. Hultgren (R-IL, 14)
Co-Sponsors:
4 (2 R; 2 D)
Introduced:
7/14/2016
S. 3399 Sponsor:
Sen. Kirk (R-IL)
Co-Sponsors:
1 (1 R; 0 D)
Introduced:
9/27/2016
NASFAA Analysis & Coverage: This bill would require at the time of application the disclosure of the stated interest rate of a loan and any fees or additional costs associated with the loan. 
       
Know Your Repayment Options Act
HR 5898 Sponsor:
Rep. Swalwell (D-CA, 15)
Co-Sponsors:
8 (0 R; 8 D)
Introduced:
7/14/2016
NASFAA Analysis & Coverage: This bill would direct the Department of Education to provide all federal student loan borrowers with personalized repayment guides. The guides would be given to borrowers every year after receiving exit counseling until their federal loans are paid off. The guide described in the bill would tell borrowers their average anticipated monthly payment amount, yearly payment amount, lifetime payment amount, number of months remaining to pay off loans, amount that would be forgiven under all possible plans, and instructions for changing repayment plans.
       
Campus Gun Policy Transparency Act
HR 5965 Sponsor:
Rep. Ellison (D-MN, 5)
Co-Sponsors:
11 (0 R; 11 D)
Introduced:
9/8/2016
NASFAA Analysis & Coverage: The bill would add information on campus firearm policies, specifically related to campus carry or open carry policies, to disclosures required for Clery Act compliance. In addition, institutions would be required to disclose these policies in a prominent location on their website and in admissions and recruitment materials. 
       
Know Before You Owe Private Education Loan Act
S. 3347 Sponsor:
Sen. Durbin (D-IL)
Co-Sponsors:
2 (0 R; 2 D)
Introduced:
9/15/2016
NASFAA Analysis & Coverage: The measure would amend both the Higher Education Act and the Truth in Lending Act to strengthen requirements surrounding private education loans. This bill would require private lenders to obtain a student’s enrollment status, cost of attendance, and unmet financial need directly from the institution, instead of the current student self-certification.
 
Student Borrower Higher Education Lending Protection (HELP) Act
HR 6446 Sponsor:
Rep. Pallone (D-NJ, 6)
Co-Sponsors:
5 (0 R; 5 D)
Introduced:
12/6/2016
NASFAA Analysis & Coverage: This bill includes three provisions relating to private lending. The bill would require total loan forgiveness for a borrower with a permanent disability or for a family member who is a cosigner of a loan taken out by a student who later dies. In addition, the bill requires deferment of loan payments for borrowers with a temporary disability. Finally, the bill requires private lenders to disclose their default rates on loan documents. 
 
Respond, Innovate, Succeed, and Empower (RISE) Act
S. 3521 Sponsor:
Sen. Casey (D-PA)
Co-Sponsors:
2 (2 R; 0 D)
Introduced:
12/8/2016
NASFAA Analysis & Coverage: This bill requires institutions, through their program participation agreement (PPA), to adopt several policies in support of students with disabilities, including publicly outlining the process by which an institution determines eligibility for accommodations. Institutions would also be required to report data about students with disabilities in federal postsecondary data collection efforts, including in the Integrated Postsecondary Education Data System (IPEDS). 

 

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Publication Date: 2/23/2021


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