Student Loan Disclosure Modernization Act

United States117th CongressS-1464Senate
Updated: Apr 29, 2021

Summary

Student Loan Disclosure Modernization Act This bill requires loan disclosure forms for federal student loans to be written in plain language, thus enabling borrowers to understand loan terms, total costs of loans, and estimated monthly repayments. Borrowers must acknowledge in writing that they have read the form before the loans are issued.

Bill texts

Available versions
Introduced (Senate)View official text

1 version available

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Timeline

Latest companion bill action

HR-2874: Student Loan Disclosure Modernization Act

Referred to the House Committee on Education and Labor.

  1. Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

    Senate

  2. Introduced in Senate

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