# 117-hr-8923: Know Before You Owe Federal Student Loan Act of 2022

117-hr-8923, Know Before You Owe Federal Student Loan Act of 2022, is a 117th Congress bill sponsored by Rep. Miller-Meeks, Mariannette [R-IA-1] (R-IA); status Referred to the House Committee on Education and Labor. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/117-hr-8923
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 117-hr-8923
- Congress: 117
- Title: Know Before You Owe Federal Student Loan Act of 2022
- Status: Referred to the House Committee on Education and Labor.
- Introduced: 2022-09-20
- Sponsor: Rep. Miller-Meeks, Mariannette [R-IA-1] (R-IA)
- Cosponsors: 5
- Policy area: Education
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Know Before You Owe Federal Student Loan Act of 2022 This bill expands lender disclosure requirements and revises loan counseling requirements. First, the bill requires a lender to provide a quarterly statement to a Federal Family Education Loan or Direct Loan borrower during a period when loan payments are not required. The statement must include specified information on the loan and interest amounts and explain the option to pay accrued interest while in deferment or forbearance. In addition, the bill requires an institution of higher education (IHE) that participates in federal student-aid programs to provide pre-loan counseling to a student borrower of a federal student loan upon or prior to the first disbursement of each new loan. Currently, an IHE must provide one-time entrance counseling to a student who is a first-time federal student loan borrower. The bill also revises and expands required elements of pre-loan counseling to include an estimate of the borrower's monthly payment amount compared to the borrower's estimated monthly income after taxes and other expenses, a statement to borrow the minimum necessary amount, a warning that a high debt-to-income ratio makes repayment more difficult, options to reduce borrowing, and an explanation of the importance of on-time graduation. Prior to certifying a Federal Direct Loan disbursement to a student, an IHE must ensure that the student manually enters the exact dollar amount of the loan.

## Cosponsors (5)

- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA), 2022-09-20T00:00:00.000Z
- Rep. Hudson, Richard [R-NC-9] (R-NC), 2022-09-20T00:00:00.000Z
- Rep. Gibbs, Bob [R-OH-7] (R-OH), 2022-09-20T00:00:00.000Z
- Rep. Gimenez, Carlos A. [R-FL-28] (R-FL), 2022-09-21T00:00:00.000Z
- Rep. Cline, Ben [R-VA-6] (R-VA), 2022-09-30T00:00:00.000Z

## Related bills

- 117-hr-2471: Consolidated Appropriations Act, 2022
- 117-hr-1448: PAWS for Veterans Therapy Act
- 117-hr-5142: To award posthumously a Congressional Gold Medal, in commemoration to the servicemembers who perished in Afghanistan on August 26, 2021, during the evacuation…
- 117-hres-881: Condemning the heinous terrorist attack on Congregation Beth Israel in Colleyville, Texas, on January 15, 2022.
- 117-hjres-65: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "COVID-19…
- 117-hr-5451: Protecting Financial Privacy Act of 2021

## Sources
- [117-hr-8923 on Congress.gov](https://www.congress.gov/bill/117th-congress/house-bill/8923)

## Related
- [117-hr-2471: Consolidated Appropriations Act, 2022](https://policyrisk.com/legislation/117-hr-2471)
- [117-hr-1448: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/117-hr-1448)
- [117-hr-5142: To award posthumously a Congressional Gold Medal, in commemoration to the servi…](https://policyrisk.com/legislation/117-hr-5142)
- [117-hres-881: Condemning the heinous terrorist attack on Congregation Beth Israel in Colleyvi…](https://policyrisk.com/legislation/117-hres-881)
- [117-hjres-65: Providing for congressional disapproval under chapter 8 of title 5, United Stat…](https://policyrisk.com/legislation/117-hjres-65)
- [117-hr-5451: Protecting Financial Privacy Act of 2021](https://policyrisk.com/legislation/117-hr-5451)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/117-hr-8923 (as of 2025-11-18).