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Student Loan Transparency: Know Your Total Interest Costs.

This new bill requires federal student loan providers to disclose the total amount of interest borrowers would pay over the life of the loan, based on a standard 10-year repayment plan. This change aims to give students a clearer picture of their education costs, enabling them to make more informed financial decisions. It's a significant step for anyone considering federal student loans.
Key points
Mandatory disclosure of the total interest amount payable over the life of federal student loans.
Information will be based on a standard 10-year repayment plan.
Increases transparency of loan costs, helping students with better financial planning.
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Expired
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Additional Information
Print number: 117_HR_7964
Sponsor: Rep. Feenstra, Randy [R-IA-4]
Process start date: 2022-06-07
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

STUDENT Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7964.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-06-07.

What are the main provisions?

Key points include:

  • Mandatory disclosure of the total interest amount payable over the life of federal student loans.
  • Information will be based on a standard 10-year repayment plan.
  • Increases transparency of loan costs, helping students with better financial planning.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Feenstra, Randy [R-IA-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Labor.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Education