House Bill 1193
115th Congress(2017-2018)
Financial Literacy to Financial Freedom Act
Introduced
Introduced in House on Feb 16, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1193
Congress
115
Policy Area
Education
Education
Primary focus of measure is elementary, secondary, or higher education including special education and matters of academic performance, school administration, teaching, educational costs, and student aid.
No House votes have been held for this bill.
Summary
Financial Literacy to Financial Freedom 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 one-time entrance counseling to a student who is a first-time Direct Loan (DL) program borrower. This bill allows an IHE to require any student DL program borrower to complete additional counseling on the terms, conditions, and responsibilities of a loan at or prior to its disbursement.
Additionally, it requires an IHE to ensure that student and parent DL program borrowers annually accept a loan affirmatively prior to the first disbursement of such loan.
February 16, 2017
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02/16/2017
Referred to the House Committee on Education and the Workforce.
02/16/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:35:06 PM