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Know Before You Owe Private Education Loan Act of 2016
Legislative Progress
Introduced
September 15, 2016
Latest Action
September 15, 2016
Primary Sponsor
Richard J. DurbinDemocratic(IL)
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 3,548 other S bills in the 114th — cohort avg 43d
Know Before You Owe Private Student Loan Act of 2016 This bill amends the Truth in Lending Act to revise requirements for disclosures in private education loan applications. Before issuing a private education loan for a student attending an institution of higher education (IHE), lenders must obtain the IHE's certification of the student's enrollment status, the student's cost of attendance, and the difference between that cost and the student's estimated financial assistance. Lenders must: (1) send loan statements to borrowers at least once every three months a student is enrolled at an IHE, (2) notify the relevant IHE of the loan amount and the student to whom it applies no later than the date funds are issued, and (3) submit an annual report to the Consumer Financial Protection Bureau (CFPB) containing information the CFPB requires concerning private student loans. This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 by requiring IHEs, before providing lenders with certifications, to determine whether students have exhausted their options for title IV assistance and notify borrowers of: (1) the availability of federal financial aid assistance, (2) their ability to choose their own private educational lender, (3) the impact of the proposed private education loan on their eligibility for other financial assistance, and (4) their right to accept or reject a private education loan within 30 days of the lender's approval of their application and to cancel the loan within 3 business days of its consummation.
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Filing registrants (1)
2018 · second_quarter · Education
Higher Education Act reauthorization, including H.R. 4508, the Promoting Real Opportunity, Success, and Prosperity through Education Reform (PROSPER) Act; and the Public Service Loan Forgiveness program H.R. 5199/S. 2517, the Education Savings Accounts for Military Families Act of 2018 / Military Education Savings Account Act of 2018 S. 1247, the Teacher Loan Repayment Act of 2017 the TEACH grant program S. 3347 in 114th Congress: Know Before You Owe Private Education Loan Act (no bill number for 115th yet) S. 3065, the Protecting Job Opportunities for Borrowers (Protecting JOBs) Act H.R. 5515, the National Defense Authorization Act for FY 19, specifically amendments regarding education and taxes Draft Bills on: Charter school accountability; Community schools and opioids; School safety (including federal school safety commission); and The Enhance Access To SNAP (EATS) Act Letter sent to Dept of Ed/DeVos re the Federal Commission on School Safety H.R. 2353, the Strengthening Career and Technical Education for the 21st Century Act H.R. 2475, the Rebuild Americas Schools Act S. 1674, the School Building Improvement Act H.R. 5895, DOD schools McSally Amendment to (Mil/Con/Approps related to Federal sector EOs)
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S5845-5846; text of measure as introduced: CR S5846-5847)
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $399,305 · Firm income: Not reported
Government targets: Education, Dept of, HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Education
Submitted Comments to Dept. of Ed on proposed ESSA regulations - Supplement-not-Supplant, and Accountability S. 3368, ASPIRE Act H. Con. Res. 145, Honoring the Public Service of Einstein Fellows on the 25th Anniversary of the Program H.R. 5611, the Homeland Safety and Security Act and related amendments S.3168 - Stronger Together School Diversity Act Rep. Honda draft language: Constitutional amendment on education funding. Informal comments provided to Dept of Ed, CDC re Zika School Guidance Discussions surrounding School-based Medicare with CMS S. 3136, Improving Child Nutrition Integrity and Access Act of 2016 H.R. 5003, Improving Child Nutrition and Education Act of 2016 H.R. 6236, the Innovations to Recruit and Retain Excellent Teachers Act Title II ESEA Submitted comments on CCDBG regulations to Administration for Women & Families Head Start performance standards H.R. 5587, the Strengthening Career and Technical Education for the 21st Century Act Submitted comments to Dept. of Ed on the proposed rule for borrower defenses against federal student loan repayment Lobbied Dept of Ed re: College Accreditation HR 3178 Strengthening Transparency in Higher Education Act HR 3179 Empowering Students Through Enhanced Financial Counseling Act HR 5528 Simplifying the Application for Student Aid Act HR 5529 Accessing Higher Education Opportunities Act HR 5530 HBCU Capital Financing Improvement Act S 396/HR 747, Proprietary Education Oversight Coordination Improvement Act S 1122/HR 2079, Court Legal Access and Student Support (CLASS) Act S 1165, Protecting Students from Worthless Degrees Act S 1664/HR 3988, Military and Veterans Education Protection Act S 1908/HR 4109, Protecting Financial Aid for Students and Taxpayers Act S 1938/HR 2360, Career-Ready Student Veterans Act S 2037/HR 3512, Pell Grant Restoration Act HR 2192, PRO Students Act S 2098/HR 3992, Students Before Profits Act S 2253/HR 3991, Veterans Education Relief and Restoration Act S 2272/HR 4101, Protect Our Students and Taxpayers (POST) Act HR 4054, Ensuring Quality Education for Veterans Act HR 6003, Protecting Our Veterans From School Closures Act S. 3347, the Know Before You Owe Private Education Loan Act H.R. 5962, Multi-year certification for Income-Driven repayment options for federal student loans, including the Streamlining Income-driven, Manageable Payments on Loans for Education Act or the SIMPLE Act higher education accreditation system, including Accreditation Reform and Enhanced Accountability Act (S 3380), and NACIQI and current status of City College of San Francisco for-profit colleges and related issues, including gainful employment regulation, borrower defense draft regulation, and closure of ITT Tech General discussions surrounding student loan servicing contracts General discussions surrounding private school vouchers, including the DC voucher program S. 1788, the Safeguarding American Families from Exposure by Keeping Information and Data Secure Act or the SAFE KIDS Act H.R. 6161, the Federal Funding Accountability for Sexual Harassers Act H.R. 711, the Equal Treatment of Public Servants Act S. 3168/H.R. 5738, Stronger Together School Diversity Act
Client expense: $306,210 · Firm income: Not reported
Government targets: Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Centers For Medicare and Medicaid Services (CMS), Education, Dept of, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Labor, Dept of (DOL), SENATE
2016 · third_quarter · Education
Submitted Comments to Dept. of Ed on proposed ESSA regulations - Supplement-not-Supplant, and Accountability S. 3368, ASPIRE Act H. Con. Res. 145, Honoring the Public Service of Einstein Fellows on the 25th Anniversary of the Program H.R. 5611, the Homeland Safety and Security Act and related amendments S.3168 - Stronger Together School Diversity Act Rep. Honda draft language: Constitutional amendment on education funding. Informal comments provided to Dept of Ed, CDC re Zika School Guidance Discussions surrounding School-based Medicare with CMS S. 3136, Improving Child Nutrition Integrity and Access Act of 2016 H.R. 5003, Improving Child Nutrition and Education Act of 2016 H.R. 6236, the Innovations to Recruit and Retain Excellent Teachers Act Title II ESEA Submitted comments on CCDBG regulations to Administration for Women & Families Head Start performance standards H.R. 5587, the Strengthening Career and Technical Education for the 21st Century Act Submitted comments to Dept. of Ed on the proposed rule for borrower defenses against federal student loan repayment Lobbied Dept of Ed re: College Accreditation HR 3178 Strengthening Transparency in Higher Education Act HR 3179 Empowering Students Through Enhanced Financial Counseling Act HR 5528 Simplifying the Application for Student Aid Act HR 5529 Accessing Higher Education Opportunities Act HR 5530 HBCU Capital Financing Improvement Act S 396/HR 747, Proprietary Education Oversight Coordination Improvement Act S 1122/HR 2079, Court Legal Access and Student Support (CLASS) Act S 1165, Protecting Students from Worthless Degrees Act S 1664/HR 3988, Military and Veterans Education Protection Act S 1908/HR 4109, Protecting Financial Aid for Students and Taxpayers Act S 1938/HR 2360, Career-Ready Student Veterans Act S 2037/HR 3512, Pell Grant Restoration Act HR 2192, PRO Students Act S 2098/HR 3992, Students Before Profits Act S 2253/HR 3991, Veterans Education Relief and Restoration Act S 2272/HR 4101, Protect Our Students and Taxpayers (POST) Act HR 4054, Ensuring Quality Education for Veterans Act HR 6003, Protecting Our Veterans From School Closures Act S. 3347, the Know Before You Owe Private Education Loan Act H.R. 5962, Multi-year certification for Income-Driven repayment options for federal student loans, including the Streamlining Income-driven, Manageable Payments on Loans for Education Act or the SIMPLE Act higher education accreditation system, including Accreditation Reform and Enhanced Accountability Act (S 3380), and NACIQI and current status of City College of San Francisco for-profit colleges and related issues, including gainful employment regulation, borrower defense draft regulation, and closure of ITT Tech General discussions surrounding student loan servicing contracts General discussions surrounding private school vouchers, including the DC voucher program S. 1788, the Safeguarding American Families from Exposure by Keeping Information and Data Secure Act or the SAFE KIDS Act H.R. 6161, the Federal Funding Accountability for Sexual Harassers Act H.R. 711, the Equal Treatment of Public Servants Act S. 3168/H.R. 5738, Stronger Together School Diversity Act
Client expense: $306,210 · Firm income: Not reported
Government targets: Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Centers For Medicare and Medicaid Services (CMS), Education, Dept of, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Labor, Dept of (DOL), SENATE
2016 · third_quarter · Education
Submitted Comments to Dept. of Ed on proposed ESSA regulations - Supplement-not-Supplant, and Accountability S. 3368, ASPIRE Act H. Con. Res. 145, Honoring the Public Service of Einstein Fellows on the 25th Anniversary of the Program H.R. 5611, the Homeland Safety and Security Act and related amendments S.3168 - Stronger Together School Diversity Act Rep. Honda draft language: Constitutional amendment on education funding. Informal comments provided to Dept of Ed, CDC re Zika School Guidance Discussions surrounding School-based Medicare with CMS S. 3136, Improving Child Nutrition Integrity and Access Act of 2016 H.R. 5003, Improving Child Nutrition and Education Act of 2016 H.R. 6236, the Innovations to Recruit and Retain Excellent Teachers Act Title II ESEA Submitted comments on CCDBG regulations to Administration for Women & Families Head Start performance standards H.R. 5587, the Strengthening Career and Technical Education for the 21st Century Act Submitted comments to Dept. of Ed on the proposed rule for borrower defenses against federal student loan repayment Lobbied Dept of Ed re: College Accreditation HR 3178 Strengthening Transparency in Higher Education Act HR 3179 Empowering Students Through Enhanced Financial Counseling Act HR 5528 Simplifying the Application for Student Aid Act HR 5529 Accessing Higher Education Opportunities Act HR 5530 HBCU Capital Financing Improvement Act S 396/HR 747, Proprietary Education Oversight Coordination Improvement Act S 1122/HR 2079, Court Legal Access and Student Support (CLASS) Act S 1165, Protecting Students from Worthless Degrees Act S 1664/HR 3988, Military and Veterans Education Protection Act S 1908/HR 4109, Protecting Financial Aid for Students and Taxpayers Act S 1938/HR 2360, Career-Ready Student Veterans Act S 2037/HR 3512, Pell Grant Restoration Act HR 2192, PRO Students Act S 2098/HR 3992, Students Before Profits Act S 2253/HR 3991, Veterans Education Relief and Restoration Act S 2272/HR 4101, Protect Our Students and Taxpayers (POST) Act HR 4054, Ensuring Quality Education for Veterans Act HR 6003, Protecting Our Veterans From School Closures Act S. 3347, the Know Before You Owe Private Education Loan Act H.R. 5962, Multi-year certification for Income-Driven repayment options for federal student loans, including the Streamlining Income-driven, Manageable Payments on Loans for Education Act or the SIMPLE Act higher education accreditation system, including Accreditation Reform and Enhanced Accountability Act (S 3380), and NACIQI and current status of City College of San Francisco for-profit colleges and related issues, including gainful employment regulation, borrower defense draft regulation, and closure of ITT Tech General discussions surrounding student loan servicing contracts General discussions surrounding private school vouchers, including the DC voucher program S. 1788, the Safeguarding American Families from Exposure by Keeping Information and Data Secure Act or the SAFE KIDS Act H.R. 6161, the Federal Funding Accountability for Sexual Harassers Act H.R. 711, the Equal Treatment of Public Servants Act S. 3168/H.R. 5738, Stronger Together School Diversity Act
Client expense: $306,210 · Firm income: Not reported
Government targets: Bureau of Indian Affairs (BIA), Centers For Disease Control & Prevention (CDC), Centers For Medicare and Medicaid Services (CMS), Education, Dept of, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Labor, Dept of (DOL), SENATE