Summary of Amendments Submitted to the Rules Committee for H.R. 1635 - Empowering Students Through Enhanced Financial Counseling Act

Summaries Derived from Information Provided by Sponsors

Listed in Alphabetical Order

September 4, 2018 4:03 PM

Click on sponsor for amendment text

Allen (GA)


Provides that nothing prohibits institutions from providing additional financial counseling.

Beatty, (OH)


Requires an introduction to the financial management resources provided by the Bureau of Consumer Financial Protection, in addition to, resources provided by the Financial Literacy and Education Commission, to each individual receiving counseling under this Act.

DeLauro (CT)


Supplements the Empowering Students Through Financial Counseling Act, HR 1635, by amending Section 487(a) §1094 of the Higher Education Act of 1965 by requiring Institutions of Higher Education and third party private loan consultants to provide students who are in repayment status or will enter repayment status within six months: “accurate and complete” information, a list and explanation of loan repayment and consolidation options, and the borrower’s repayment status, repayment schedule, and an explanation of options to make, schedule, defer, or reduce loan payments.

Espaillat (NY)


LATE Includes the entire legislative text of the DREAM Act to the underlying bill.

Espaillat (NY)


LATE Expanding dual enrollment and early college programs.

Hartzler (MO)


REVISED Encourages institutions of higher education to have students attend in-person loan counseling sessions to the maximum extent practicable.

Jayapal (WA)


Clarifies that student loan counseling should utilize terminology understandable to average individuals receiving counseling, including those with limited English proficiency

Jayapal (WA)


Adds requirement that student loan exit counseling includes instructions on how to submit borrower complaints to the Consumer Financial Protection Bureau’s complaints database.

Jayapal (WA)


Adds requirement that student loan exit counseling includes a warning about illegitimate third-party debt relief companies, which offer services for a fee already provided to borrowers free of charge through loan servicers.

Lamb, Conor (PA), Peters, Scott (CA)


Requires the Department of Education to disaggregate by veteran status when conducting the longitudinal study on the effectiveness of student loan counseling.

Lewis, Jason (MN)


Clarifies all payment options for Parent PLUS loans and notifies Parent PLUS borrowers that their dependent may qualify for and should consider scholarships, grants, and federal work-study jobs prior to borrowing.

Moore, Gwen (WI)


LATE Ensures that information about other available nonfinancial and financial support at an higher education institutions are provided as part of the required counseling, including information about support available to overcome barriers to degree completion.

Murphy, Stephanie (FL)


Requires institutions of higher education, as part of the annual counseling process mandated by the bill, to inform a student borrower that the loan amounts the student uses during an academic term will count towards the student’s aggregate loan amounts, regardless of whether the credits transfer.

Norcross (NJ)


LATE WITHDRAWN Provides counseling for students, upon graduation, on the importance of retirement savings and the options available to them.

O'Halleran (AZ), Bera (CA)


Requires counseling to disclose the anticipated monthly payment to borrowers for any income-driven repayment plan for which they are eligible, improving borrowers’ awareness of income-driven repayment plan options.

Stefanik (NY)


Provides all students with an explanation of how to seek additional assistance from the financial aid office should they experience a change of financial circumstance. Additionally, the amendment would specify that a borrower receives the loan amount they requested.

Torres (CA)


Directs the Department of Education to not count Pell Grants received for use at a school which has closed towards the lifetime cap for allowed Pell Grants.

Torres (CA)


Requires that the Department of Education discharge all federals loans within 120 days held by students at schools which have closed while they were enrolled, or soon after they withdrew (up to 120 days).

Waters (CA)


Clarifies that the Consumer Financial Protection Bureau is one of the federal agencies with which the Secretary of Education must consult in order to consumer test the online counseling tool maintained by the Secretary. In addition, the amendment requires that the Secretary of Education consult with institutions of higher education, students and borrowers, and non-profit groups with consumer protection advocacy experience.

Welch (VT), Katko (NY)


Requires loan service contractors to provide annual counseling to borrowers once the borrower is in repayment status.