Legislative Tracker: Consumer Information & Transparency

Legislative Tracker Logo On this page, you'll find proposals to increase student and family awareness of institutional policies or provide students and borrowers with additional information. 

For consumer information proposals from the previous sessions of Congress, visit the Legislative Tracker Archive: Consumer Information & Transparency

 

*NEW* Understanding the True Cost of College Act of 2019

H.R. 2321

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.

 

*NEW* Empowering Students Through Enhanced Financial Counseling Act

H.R. 2129

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.

 

*NEW* College Equity Act of 2019

H.R. 2006

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.

 

Net Price Calculator Improvement Act

S. 889 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.

 

Understanding the True Cost of College Act

S. 888 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.

 

Know Before You Owe Federal Student Loan Act

S. 887 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.
 

College Transparency Act

S. 800 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.

 

CFPB Student Loan Integrity and Transparency Act of 2019

S. 720 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.
 

Student Right to Know Before You Go Act of 2019

 H.R. 1565 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.
 

Debt-Free College Act of 2019

H.R. 1571 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.
 

Student Loan Disclosure Modernization Act

H.R. 1161 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.
       

Transparency in Student Lending Act

S. 234 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.
       

Student Loan Disclosure Modernization Act

H.R. 63 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.
       

 

Return to Legislative Tracker Overview

Publication Date: 6/3/2019


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