H.R. 1635 - Empowering Students Through Enhanced Financial Counseling Act

Bill Text

    Text of H.R. 1635 PDF XML

    Empowering Students Through Enhanced Financial Counseling Act (as introduced).
            ::  Section-by-section analysis provided by the Committee on Education and the Workforce   PDF
     
           ::  Ramseyer for H.R. 1635 (pursuant to clause 12 of rule XXI)  PDF

Rule Information

COMMITTEE ACTION:
REPORTED BY RECORD VOTE of 8-4 on Tuesday, September 4, 2018.

FLOOR ACTION ON H. RES. 1049: 
Agreed to by record vote of 224-180, after agreeing to the previous question by record vote of 221-186 on Wednesday, September 5, 2018.

MANAGERS: Cheney/Torres

1. Structured rule for H.R. 1635.

2. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Education and the Workforce.

3. Waives all points of order against consideration of the bill.

4. Provides that the bill shall be considered as read.

5. Waives all points of order against provisions in the bill.

6. Makes in order only those amendments printed in part A of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

7. Waives all points of order against the amendments printed in part A of the report.

8. Provides one motion to recommit with or without instructions.

9. Structured rule for H.R. 4606.

10. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Energy and Commerce.

11. Waives all points of order against consideration of the bill.

12. Makes in order as original text for the purpose of amendment the amendment in the nature of a substitute recommended by the Committee on Energy and Commerce now printed in the bill and provides that it shall be considered as read.

13. Waives all points of order against that amendment in the nature of a substitute.

14. Makes in order only those amendments printed in part B of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

15. Waives all points of order against the amendments printed in part B of the report.

16. Provides one motion to recommit with or without instructions.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
3Version 1Allen (GA)RepublicanProvides that nothing prohibits institutions from providing additional financial counseling. Made In Order
14Version 1Beatty, (OH)DemocratRequires 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.Submitted
15Version 1DeLauro (CT)DemocratSupplements 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.Submitted
19Version 1Espaillat (NY)DemocratLate Includes the entire legislative text of the DREAM Act to the underlying bill. Submitted
20Version 1Espaillat (NY)DemocratLate Expanding dual enrollment and early college programs. Submitted
10Version 4Hartzler (MO)RepublicanRevised Encourages institutions of higher education to have students attend in-person loan counseling sessions.Made In Order
4Version 1Jayapal (WA)DemocratClarifies that student loan counseling should utilize terminology understandable to average individuals receiving counseling, including those with limited English proficiencySubmitted
5Version 1Jayapal (WA)DemocratAdds requirement that student loan exit counseling includes instructions on how to submit borrower complaints to the Consumer Financial Protection Bureau’s complaints database.Submitted
8Version 1Jayapal (WA)DemocratAdds 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.Made In Order
12Version 1Lamb, Conor (PA), Peters, Scott (CA)DemocratRequires the Department of Education to disaggregate by veteran status when conducting the longitudinal study on the effectiveness of student loan counseling.Submitted
1Version 1Lewis, Jason (MN)RepublicanClarifies 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. Made In Order
18Version 1Moore, Gwen (WI)DemocratLate 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.Submitted
2Version 1Murphy, Stephanie (FL)DemocratRequires 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.Made In Order
17Version 1Norcross (NJ)DemocratLate Withdrawn Provides counseling for students, upon graduation, on the importance of retirement savings and the options available to them. Withdrawn
11Version 1O'Halleran (AZ), Bera (CA)DemocratRequires 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. Made In Order
9Version 1Stefanik (NY)RepublicanProvides 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. Made In Order
6Version 1Torres (CA)DemocratDirects 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.Submitted
7Version 1Torres (CA)DemocratRequires 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).Submitted
16Version 1Waters (CA)DemocratClarifies 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. Submitted
13Version 1Welch (VT), Katko (NY)Bi-PartisanRequires loan service contractors to provide annual counseling to borrowers once the borrower is in repayment status. Submitted