II
118THCONGRESS
1
STSESSION S. 469
To require disclosure of the total amount of interest that would be paid
over the life of a loan for certain Federal student loans.
IN THE SENATE OF THE UNITED STATES
FEBRUARY16, 2023
Ms. E
RNST(for herself, Mr. GRASSLEY, Mr. JOHNSON, Ms. HASSAN, Mr.
M
ANCHIN, and Mr. KAINE) introduced the following bill; which was read
twice and referred to the Committee on Health, Education, Labor, and
Pensions
A BILL
To require disclosure of the total amount of interest that
would be paid over the life of a loan for certain Federal
student loans.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Student Transparency 4
for Understanding Decisions in Education Net Terms 5
Act’’ or the ‘‘STUDENT Act’’. 6
SEC. 2. INTEREST DISCLOSURE. 7
Section 433(a) of the Higher Education Act of 1965 8
(20 U.S.C. 1083(a)) is amended— 9
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•S 469 IS
(1) by redesignating paragraphs (18) and (19) 1
as paragraphs (19) and (20), respectively; and 2
(2) by inserting after paragraph (17) the fol-3
lowing: 4
‘‘(18) the total amount of interest that would 5
be paid over the life of the loan based on a standard 6
10-year repayment plan;’’. 7
Æ
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