[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 3865 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 3865

  To require disclosure of the total amount of interest that would be 
    paid over the life of a loan for certain Federal student loans.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 17, 2022

 Ms. Ernst (for herself, Mr. Grassley, and Mr. Johnson) introduced the 
 following bill; which was read twice and referred to the Committee on 
                 Health, Education, Labor, and Pensions

_______________________________________________________________________

                                 A BILL


 
  To require disclosure of the total amount of interest that would be 
    paid over the life of a loan for certain Federal student loans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Transparency for 
Understanding Decisions in Education Net Terms Act'' or the ``STUDENT 
Act''.

SEC. 2. INTEREST DISCLOSURE.

    Section 433(a) of the Higher Education Act of 1965 (20 U.S.C. 
1083(a)) is amended--
            (1) by redesignating paragraphs (18) and (19) as paragraphs 
        (19) and (20), respectively; and
            (2) by inserting after paragraph (17) the following:
            ``(18) the total amount of interest that would be paid over 
        the life of the loan based on a standard 10-year repayment 
        plan;''.
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