Student Transparency for Understanding Decisions in Education Net Terms Act

S. 3865 · 117th Congress · Mar 17, 2022 · Lineage

A BILL

To require disclosure of the total amount of interest that would be paid over the life of a loan for certain Federal student loans.

This Act may be cited as the “Student Transparency for Understanding Decisions in Education Net Terms Act” or the “STUDENT Act”.

Section 433(a) of the Higher Education Act of 1965 (20 U.S.C. 1083(a)) is amended—

(1)

by redesignating paragraphs (18) and (19) as paragraphs (19) and (20), respectively; and

(2)

by inserting after paragraph (17) the following:

“(18) the total amount of interest that would be paid over the life of the loan based on a standard 10-year repayment plan;”