H.R. 5898 · 114th Congress
Know Your Repayment Options Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SwalwellSponsor8 cosponsors · 8 D
7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Higher Education Act of 1965 to require the Department of Education (ED) to annually give federal student loan borrowers who have graduated or departed from school detailed information, including monthly amount and lifetime payment amount, for each repayment option available to the borrower.
What it does: CRS summary · Introduced in House · Jul 14, 2016
Know Your Repayment Options Act
This bill amends the Higher Education Act of 1965 to require the Department of Education (ED) to annually give federal student loan borrowers who have graduated or departed from school detailed information, including monthly amount and lifetime payment amount, for each repayment option available to the borrower. To provide this individualized information to borrowers, ED must establish a process for annual verification of the borrower's annual income and the outstanding balance of principal and interest due on federal loans. Borrowers may opt out of being provided this information.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Know Your Repayment Options Act
Latest action (Sep 19, 2016): Referred to the Subcommittee on Higher Education and Workforce Training.
Policy area: Education · Origin: House · Introduced: Jul 14, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.