| 1 | 1 | | II |
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| 2 | 2 | | 118THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION S. 469 |
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| 5 | 5 | | To require disclosure of the total amount of interest that would be paid |
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| 6 | 6 | | over the life of a loan for certain Federal student loans. |
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| 7 | 7 | | IN THE SENATE OF THE UNITED STATES |
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| 8 | 8 | | FEBRUARY16, 2023 |
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| 9 | 9 | | Ms. E |
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| 10 | 10 | | RNST(for herself, Mr. GRASSLEY, Mr. JOHNSON, Ms. HASSAN, Mr. |
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| 11 | 11 | | M |
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| 12 | 12 | | ANCHIN, and Mr. KAINE) introduced the following bill; which was read |
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| 13 | 13 | | twice and referred to the Committee on Health, Education, Labor, and |
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| 14 | 14 | | Pensions |
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| 15 | 15 | | A BILL |
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| 16 | 16 | | To require disclosure of the total amount of interest that |
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| 17 | 17 | | would be paid over the life of a loan for certain Federal |
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| 18 | 18 | | student loans. |
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| 19 | 19 | | Be it enacted by the Senate and House of Representa-1 |
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| 20 | 20 | | tives of the United States of America in Congress assembled, 2 |
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| 21 | 21 | | SECTION 1. SHORT TITLE. 3 |
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| 22 | 22 | | This Act may be cited as the ‘‘Student Transparency 4 |
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| 23 | 23 | | for Understanding Decisions in Education Net Terms 5 |
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| 24 | 24 | | Act’’ or the ‘‘STUDENT Act’’. 6 |
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| 25 | 25 | | SEC. 2. INTEREST DISCLOSURE. 7 |
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| 26 | 26 | | Section 433(a) of the Higher Education Act of 1965 8 |
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| 27 | 27 | | (20 U.S.C. 1083(a)) is amended— 9 |
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| 28 | 28 | | VerDate Sep 11 2014 00:31 Mar 04, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S469.IS S469 |
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| 29 | 29 | | kjohnson on DSK79L0C42PROD with BILLS 2 |
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| 30 | 30 | | •S 469 IS |
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| 31 | 31 | | (1) by redesignating paragraphs (18) and (19) 1 |
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| 32 | 32 | | as paragraphs (19) and (20), respectively; and 2 |
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| 33 | 33 | | (2) by inserting after paragraph (17) the fol-3 |
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| 34 | 34 | | lowing: 4 |
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| 35 | 35 | | ‘‘(18) the total amount of interest that would 5 |
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| 36 | 36 | | be paid over the life of the loan based on a standard 6 |
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| 37 | 37 | | 10-year repayment plan;’’. 7 |
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| 38 | 38 | | Æ |
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| 39 | 39 | | VerDate Sep 11 2014 00:31 Mar 04, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S469.IS S469 |
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| 40 | 40 | | kjohnson on DSK79L0C42PROD with BILLS |
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