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House Bill 1193
115th Congress(2017-2018)
Financial Literacy to Financial Freedom Act
Introduced
Introduced
Introduced in House on Feb 16, 2017
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Introduced in House 
Feb 16, 2017
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Introduced in House(Feb 16, 2017)
Feb 16, 2017
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 1193 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 1193


To amend the Higher Education Act of 1965 to authorize institutions of higher education to provide additional loan counseling, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

February 16, 2017

Mr. Trott introduced the following bill; which was referred to the Committee on Education and the Workforce

A BILL

To amend the Higher Education Act of 1965 to authorize institutions of higher education to provide additional loan counseling, and for other purposes.

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 “Financial Literacy to Financial Freedom Act”.

SEC. 2. Entrance counseling for borrowers.

Section 485(l) of the Higher Education Act of 1965 (20 U.S.C. 1092(l)) is amended by adding at the end the following:

“(3) ADDITIONAL COUNSELING.—In addition to the entrance counseling under paragraph (1), an eligible institution may require any borrower, at or prior to the time of a disbursement to the borrower of a loan made under part D (other than a Federal Direct Consolidation Loan or a Federal Direct PLUS loan made on behalf of a student), to receive the information described in paragraph (2) with respect to such loan, or any other financial counseling, including financial literacy counseling.

“(4) ANNUAL LOAN ACCEPTANCE.—Prior to making the first disbursement of a loan made under part D (other than a Federal Direct Consolidation Loan) to a borrower for an award year, an eligible institution, shall ensure that after receiving the applicable counseling under paragraph (2) or (3), the borrower accepts the loan for such award year by—

“(A) signing the master promissory note for the loan;

“(B) signing and returning to the institution a separate written statement that affirmatively states that the borrower accepts the loan; or

“(C) electronically signing an electronic version of the statement described in subparagraph (B).”.