STUDENT Act
Sponsored By: Senator Joni Ernst
Introduced
Summary
Would require federal student loan disclosures to show a borrower's total lifetime interest cost. The bill would add a mandatory lifetime-interest figure to the existing loan disclosure under the Higher Education Act. That interest amount must be calculated using the standard repayment plan that applies to the borrower's total outstanding principal across all federal loans. This change focuses only on the information lenders must give borrowers and does not change repayment options or program rules.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Lifetime interest disclosure for borrowers
This bill would require federal loan disclosures to show the total interest you would pay over the life of your loans. The calculation would use the standard repayment plan based on your total outstanding federal loan principal. If enacted, this figure would appear in the section 433(a) disclosure borrowers get. The change would only add a disclosure and would not change payments or eligibility.
Sponsors & CoSponsors
Sponsor
Joni Ernst
IA • R
Cosponsors
Amy Klobuchar
MN • D
Sponsored 9/10/2025
Timothy Kaine
VA • D
Sponsored 9/10/2025
Ashley Moody
FL • R
Sponsored 9/10/2025
Chuck Grassley
IA • R
Sponsored 9/10/2025
Maggie Hassan
NH • D
Sponsored 9/10/2025
Eric Schmitt
MO • R
Sponsored 9/16/2025
Pete Ricketts
NE • R
Sponsored 9/30/2025
Roll Call Votes
No roll call votes available for this bill.
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