DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 554 Original 2020 Regular Session Davis
Abstract: Requires postsecondary institutions to provide enrolled students who take out education
loans with information concerning these loans.
Proposed law requires public postsecondary institutions to provide any student who is enrolled in
the institution and takes out an education loan with estimates of the total amount of the loans taken
out by the student.
Proposed law requires these institutions to also provide an estimate of the potential total payoff
amounts to be incurred by the student who takes out the loan as well as estimates of the monthly
repayment amounts that similarly situated students incurred.
Proposed law requires that students are also given updates on the percentage of their borrowing limit
that has been reached.
Proposed law requires institutions to provide this information to students on an annual basis.
(Adds R.S. 17:3351(M))