Federal Employee Student Debt Transparency Act
1/31/2025, 3:38 AMSummary of Bill HR 66
Bill 119 hr 66, also known as the Federal Student Loan Disclosure Act, aims to amend chapter 131 of title 5, United States Code. The main purpose of this bill is to require Senior Executive Service (SES) and schedule C employees to disclose any federal student loan debt they may have. This disclosure is intended to increase transparency and accountability among high-ranking government officials.The bill also includes provisions for other purposes, although specific details on these additional purposes are not provided in the summary. Overall, the Federal Student Loan Disclosure Act seeks to ensure that SES and schedule C employees are forthcoming about their federal student loan debt, potentially impacting their financial decisions and obligations.
In summary, Bill 119 hr 66 is focused on increasing transparency and accountability among high-ranking government officials by requiring them to disclose any federal student loan debt they may have.
Congressional Summary of HR 66
Federal Employee Student Debt Transparency Act
This bill requires certain executive branch employees to disclose their federal student loan debt in an annual report.
The bill's requirement applies to an employee serving in a Senior Executive Service position or a position of a confidential or policy-determining nature (i.e., a Schedule C position). Covered employees must file a report detailing the principal and interest owed on loans under the William D. Ford Federal Direct Loan Program, the Federal Family Education Loan Program, and the Federal Perkins Loan Program.
The bill also requires the Office of Government Ethics to submit an annual report to Congress that contains (1) the total amount owed by all covered employees, and (2) the name of any covered employee who failed to report the required information.
