H.R. 2874 · 117th Congress
Student Loan Disclosure Modernization Act
- Stage
- In committee
- Sponsor
- Emanuel Cleaver
- Introduced
- 2021-04-28
- Latest action
- 2021-04-28 · Introduced in House
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.