To amend the loan counseling requirements under the Higher Education Act of 1965, and for other purposes.
Empowering Students Through Enhanced Financial Counseling Act
This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify loan counseling requirements for an institution of higher education (IHE) that participates in federal student aid programs.
Currently, an IHE must provide entrance counseling to a student who is a first-time federal student loan borrower. This bill replaces required entrance counseling with required annual counseling. Also, it expands the required recipients of such annual counseling to include, in addition to student borrowers, Federal Pell Grant recipients and parent PLUS Loan borrowers.
Each annual counseling recipient must receive comprehensive information on the terms, conditions, and responsibilities with respect to a grant or loan and general information on a typical student budget, the right to request an annual credit report, average income and employment data, and financial management resources. Additionally, the bill revises, expands, or establishes specific annual counseling information requirements for student borrowers, Pell Grant recipients, or parent PLUS Loan borrowers.
The bill revises and expands exit counseling information requirements to include an outstanding loan balance summary, the anticipated monthly payments under standard and income-based repayment plans, an explanation of the grace period preceding repayment, the option to pay accrued interest before it capitalizes, the right to request an annual credit report, and loan servicer contact information.
It directs the Department of Education to maintain a consumer-tested online counseling tool that provides annual and exit counseling.
The Institute of Education Sciences must study the impact and effectiveness of exit counseling, annual counseling, and the online counseling tool.
Placed on the Union Calendar, Calendar No. 413.
Referred to the Subcommittee on Nutrition.
Motion to reconsider laid on the table Agreed to without objection.
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
DEBATE - Pursuant to the provisions of H.Res. 1049, the Committee of the Whole proceeded with 10 minutes of debate on the Stefanik amendment No. 1.
DEBATE - Pursuant to the provisions of H.Res. 1049, the Committee of the Whole proceeded with 10 minutes of debate on the Murphy (FL) amendment No. 2.
DEBATE - Pursuant to the provisions of H.Res. 1049, the Committee of the Whole proceeded with 10 minutes of debate on the O'Halleran amendment No. 3.
DEBATE - Pursuant to the provisions of H.Res. 1049, the Committee of the Whole proceeded with 10 minutes of debate on the Lewis (MN) amendment No. 4.
DEBATE - Pursuant to the provisions of H.Res. 1049, the Committee of the Whole proceeded with 10 minutes of debate on the Allen amendment No. 5.
DEBATE - Pursuant to the provisions of H.Res. 1049, the Committee of the Whole proceeded with 10 minutes of debate on the Hartzler amendment No. 6.
DEBATE - Pursuant to the provisions of H.Res. 1049, the Committee of the Whole proceeded with 10 minutes of debate on the Jayapal amendment No. 7.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1635.
The previous question was ordered pursuant to the rule.
Mr. Lamb moved to recommit with instructions to the Committee on Education and the Workforce. (text: CR H7861)
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DEBATE - The House proceeded with 10 minutes of debate on the Lamb motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment adding the status as a recipient of assistance under the tuition assistance program conducted by DOD or other authorities available to the DOD or veterans' education benefits.
The previous question on the motion to recommit with instructions was ordered without objection.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Lamb motion to recommit, the Chair put the question on adoption of the motion to recommit and by voice vote, announced that the noes had prevailed. Mr. Lamb demanded the yeas and nays and the Chair postponed further proceedings under later in the legislative day.
Considered as unfinished business. (consideration: CR H7862)
On motion to recommit with instructions Failed by the Yeas and Nays: 187 - 224 (Roll no. 384).
Roll Call #384 (House)Considered as unfinished business. (consideration: CR H7863-7864)
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 406 - 4 (Roll no. 385).
Roll Call #385 (House)On passage Passed by the Yeas and Nays: 406 - 4 (Roll no. 385).
Roll Call #385 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.