Student Loan Disclosure Modernization Act
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 status
in committee
1 of 4 stages cleared
Introduction
Apr 2021
Committee Review
Floor Vote
President
Introduced Apr 28, 2021
Last action Apr 28, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 28, 2021
Committee
Referred to the House Committee on Education and Labor.
lower
Apr 28, 2021
Introduced
Introduced in House
lower
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Emanuel Cleaver
DDemocratic
Co
Jim Banks
RRepublican
Co
Lisa C. McClain
RRepublican
Co
Tom Rice
RRepublican
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