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Federal Student Loans: Mandatory Disclosure of True Annual Percentage Rate (APR).

This bill requires institutions providing federal student loans to disclose the Annual Percentage Rate (APR) to borrowers before the funds are disbursed. This ensures citizens understand the total cost of the loan, including interest, fees, and capitalization, enabling them to make better financial decisions about their education. This change enhances consumer protection in the education sector.
Key points
Mandatory disclosure of the Annual Percentage Rate (APR) for federal student loans before the loan money is released.
The APR calculation must include all costs: stated interest rate, fees, additional costs, and interest capitalization, providing a complete debt picture.
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Additional Information
Print number: 118_S_4686
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2024-07-11
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Transparency in Student Lending Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4686.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-07-11.

What are the main provisions?

Key points include:

  • Mandatory disclosure of the Annual Percentage Rate (APR) for federal student loans before the loan money is released.
  • The APR calculation must include all costs: stated interest rate, fees, additional costs, and interest capitalization, providing a complete debt picture.
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 Sen. Barrasso, John [R-WY].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Education Economy