Today, a bipartisan bill introduced by Congressman
H.R. 4984, the Empowering Students through Enhanced Financial Counseling Act, will reform the current guidelines to require annual counseling for student borrowers and enhance their understanding of financial aid.
"A good education is very important in today's job market, but so is being financially literate," said Congressman Guthrie. "My bill ensures students have the knowledge to understand how much money they are borrowing, which financial options they should draw from first, and the implications of their future debt load and repayment scenarios. We have seen that students who are equipped with this knowledge leave school with significantly lower debt burdens."
H.R. 4984, which passed out of committee on
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