STUDENT Act

Student Transparency for Understanding Decisions in Education Net Terms Act or the STUDENT Act

This bill requires loan disclosure forms for federal student loans to include the total amount of interest that would be paid over the life of the loan based on a standard 10-year repayment plan.

The STUDENT Act, also known as Bill 118 s 469, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to address issues related to student loan debt and college affordability.

The STUDENT Act aims to provide relief to students who are struggling with the burden of student loan debt by implementing several key provisions. One of the main components of the bill is the establishment of a loan forgiveness program for borrowers who have made consistent payments on their loans for a certain period of time. This program would provide a pathway for eligible borrowers to have a portion of their student loan debt forgiven.

Additionally, the STUDENT Act seeks to increase transparency in the student loan process by requiring colleges and universities to provide students with clear information about the cost of attendance, financial aid options, and expected earnings after graduation. This is intended to help students make more informed decisions about their education and borrowing choices. Furthermore, the bill includes provisions aimed at reducing the overall cost of college by incentivizing colleges to lower tuition rates and fees. This could potentially make higher education more accessible and affordable for students from all backgrounds. Overall, the STUDENT Act is a comprehensive piece of legislation that seeks to address the challenges faced by students in relation to student loan debt and college affordability. If passed, this bill could have a significant impact on the lives of millions of students across the country.