Texas 2017 - 85th Regular

Texas House Bill HB836 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		85R15338 SRS-F
2	2		By: Clardy, Rodriguez of Bexar H.B. No. 836
3		-	Substitute the following for H.B. No. 836:
4		-	By: Lozano C.S.H.B. No. 836
5	3
6	4
7	5		A BILL TO BE ENTITLED
8	6		AN ACT
9	7		relating to a requirement that certain participating institutions
10	8		under the student loan program administered by the Texas Higher
11	9		Education Coordinating Board provide loan debt information to
12	10		certain students.
13	11		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
14	12		SECTION 1. Subchapter C, Chapter 52, Education Code, is
15	13		amended by adding Section 52.335 to read as follows:
16	14		Sec. 52.335. REQUIRED LOAN DEBT DISCLOSURE. (a) This
17	15		section applies to a participating higher educational institution
18	16		that enrolls one or more students receiving state financial aid
19	17		administered by the Texas Higher Education Coordinating Board.
20	18		(b) At least annually a participating higher educational
21	19		institution to which this section applies that receives education
22	20		loan information for a student enrolled at the institution who
23	21		initially enrolled at the institution as a first-time freshman
24	22		student shall provide to that student in an electronic
25	23		communication the following information:
26	24		(1) an estimate of the total amount of state and
27	25		federal education loans incurred by the student;
28	26		(2) an estimate of the total payoff amount, or a range
29	27		for that amount, for the amount described by Subdivision (1),
30	28		including principal and interest; and
31	29		(3) an estimate of the monthly repayment amount that
32	30		the student may incur for the repayment of the amount described by
33	31		Subdivision (1), including principal and interest.
34	32		(c) A participating higher educational institution is
35	33		required to include in the disclosure only education loan debt
36	34		information regarding the student that the institution:
37	35		(1) receives or otherwise obtains from the United
38	36		States Department of Education's central database for student aid;
39	37		and
40	38		(2) may reasonably collect from its own records.
41	39		(d) The disclosure required under this section must:
42	40		(1) identify the types of education loans included in
43	41		the institution's estimates; and
44	42		(2) include:
45	43		(A) a statement that the disclosure is not a
46	44		complete and official record of the student's education loan debt,
47	45		together with an explanation regarding why the disclosure may not
48	46		be complete or accurate; and
49	47		(B) a statement that the institution's estimates
50	48		are general in nature and are not intended as a guarantee or
51	49		promise.
52	50		(e) A participating higher educational institution does not
53	51		incur liability for any representation made under this section.
54	52		(f) The Texas Higher Education Coordinating Board shall
55	53		adopt rules for the administration of this section.
56	54		SECTION 2. Section 52.335, Education Code, as added by this
57	55		Act, applies beginning with the 2018-2019 academic year.
58	56		SECTION 3. This Act takes effect immediately if it receives
59	57		a vote of two-thirds of all the members elected to each house, as
60	58		provided by Section 39, Article III, Texas Constitution. If this
61	59		Act does not receive the vote necessary for immediate effect, this
62	60		Act takes effect September 1, 2017.