,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #egee  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #ac1 #bjaf,mr4  
,mess] 7= himself1 ,ms4 ,/efanik1 ,mr4  
,rokita1 ,mrs4 ,brooks ( ,indiana1 ,mr4 
,buc%on1 ,mr4 ,swalwell ( ,cali=nia1 &  
,mr4 ,"y ( ,indiana7 introduc$ ! foll[+ 
bill2 :i* 0 ref]r$ to ! ,committee on   
,education & ! ,work=ce  ,a ,,bill  ,to 
am5d ! ,high] ,education ,act ( #aife to
 require in/itutions ( high] education  
to provide /ud5ts ) annual e/imates (   
/ud5t loan borr[+ co/s4  #a4 ,%ort title
 ,?is ,act may be cit$ z ! ,lett] (     
,e/imat$ ,annual ,debt = ,/ud5ts ,act ( 
#bjaf or ! ,,leads ,act ( #bjaf4  #b4   
,annual e/imate ( /ud5t loan borr[+ co/s
 ,section #dhe ( ! ,high] ,education    
,act ( #aife 7#bj ,u4,s4,c4 #ajib7 is   
am5d$ by add+ at ! end ! foll[+3  7n7   
,annual e/imate ( /ud5t loan borr[+ co/s
  7#a7 ,9 g5]al ,beg9n+ on ,july #a1    
#bjah1 ea* eligible in/itution %all     
provide a co/ e/imate describ$ 9        
p>agraph 7#b7 to ea* enroll$ /ud5t :o   

receives an education loan to att5d !   
in/itution1 n lat] ?an #cj days be=e !  
fir/ day ( ea* academic ye> beg9n+ aft] 
! academic ye> = :i* ! /ud5t fir/       
receiv$ su* a loan to att5d su*         
in/itution4  7#b7 ,cont5ts ( e/imate ,! 
e/imate "u p>agraph 7#a7 %all conta9 !  
foll[+ in=mation3 7,a7 ,cumulative      
balances & mon?ly paym5ts ,a notice to !
 /ud5t (--  7i7 ! cumulative balance (  
education loans ow$ by ! /ud5t z ( !    
date ( ! notice2  7ii7 ! am\nt ( any new
 education loans expect$ to be disburs$ 
dur+ su* academic ye>2  7iii7 ! project$
 cumulative balance ( education loans t 
w be ow$ by ! /ud5t aft] ! completion ( 
! /ud5t's c\rse ( /udy at ! in/itution2 
&  7iv7 project$ mon?ly paym5t am\nts   
bas$ on ! cumulative balances describ$ 9
 clauses 7i71 7ii71 & 7iii71            
respectively1 assum+ a /&>d repaym5t    
s*$ule4  7,b7 ,int]e/ rates ,! int]e/   
rate ( ea* education loan1 except t     
int]e/ rates = a private education loan 
may be bas$ on av]age private education 

loan int]e/ rates if ! in/itution _c    
reasonably det]m9e ! actual int]e/ rate 
( su* loan4  7,c7 ,disclaim] ,a cle> &  
conspicu\s notice /at+ t any in=mation  
provid$ "u p>agraph 7#a7 is an e/imate1 
accurate to ! be/ ( ! in/itution's k1 & 
t an int]e/ rate provid$ "u subp>agraph 
7,b7--  7i7 9 ! case ( a loan describ$ 9
 p>agraph 7#f77;,a77i71 is ! applicable 
rate ( int]e/ ( su* loan2  7ii7 9 ! case
 ( a private education loan1 may be bas$
 on av]age private education loan int]e/
 rates2 &  7iii7 does n include private 
education loans ( :i* ! in/itution is n 
aw>e4  7#c7 ,=m ( e/imate ,! e/imate "u 
p>agraph 7#a7 %all be--  7,a7 provid$ to
 ! /ud5t 9 h>d copy =mat on ! lett]head 
( ! in/itution1 by electronic mail or by
 ano!r me?od ! ,secret>y may prescribe2 
&  7,b7 deliv]$ to ! /ud5t sep>ately f  
any o!r disclosures requir$ "u ?is ,act4
  7#d7 ,limitation ( liability ,an      
in/itution t provides ! e/imate "u      
p>agraph 7#a7 9 good fai? %all n be     
liable to any p]son = inaccuracies      

conta9$ 9 su* e/imate4  7#e7 ,/ud5t debt
 lett] template ,n lat] ?an ,july #a1   
#bjag1 & z necess>y !reaft]1 ! ,secret>y
 %all provide ! foll[+ to eligible      
in/itutions3  7,a7 ,examples ( e/imates 
requir$ "u p>agraph 7#b74  7,b7         
,te*nical assi/ance on h[ to comply ) ! 
requirem5ts ( ?is subsection4  7,c7     
,prelim9>y approvals 9 a timely mann] ( 
e/imate =mats propos$ = use by an       
in/itution1 at ! reque/ ( ! in/itution4 
7,d7 ,! =mula 7:i* %all take into       
consid]ation a /ud5t's pa/ borr[+ rates 
& o!r crit]ia ! ,secret>y may det]m9e7  
to be us$ 9 mak+ ! projections "u       
clauses 7iii7 & 7iv7 ( p>agraph         
7#b77;,a7 ) respect to loans describ$ 9 
p>agraph 7#f77;,a77i74  7,e7 ,encryption
 te*nology s(tw>e to enable in/itutions 
to provide ! e/imate "u p>agraph 7#b7 to
 /ud5ts 9 a secure =mat = in/itutions t 
*oose to provide ! e/imate to /ud5ts 9  
an electronic =mat4  7#f7 ,def9itions ,9
 ?is subsection3 7,a7 ,education loan ,!
 t]m education loan means--  7i7 a loan 

made "u "p ,d 7o!r ?an a ,f$]al ,direct 
,consolidation ,loan or a ,f$]al ,direct
 ,,plus loan made on behalf ( a /ud5t72 
7ii7 a loan made "u a ,/ate-sponsor$    
loan program = ! purpose ( pay+ a       
/ud5t's co/ ( att5dance at an in/itution
 ( high] education2 &  7iii7 a private  
education loan ) respect to :i* !       
in/itution %\ld reasonably be aw>e4     
7,b7 ,private education loan ,! t]m     
private education loan has ! mean+ giv5 
! t]m 9 section #adj ( ! ,tru? 9 ,l5d+  
,act4  7,c7 ,/ud5t ,! t]m /ud5t1 :5 us$ 
) respect to an eligible in/itution1    
does n include any /ud5t :o has         
transf]r$ to ! in/itution m ?an #fj days
 be=e ! fir/ day ( ! academic ye>       
involv$4  4  #c4 ,annual provision (    
in=mation by ! ,secret>y ( ,education ,n
 lat] ?an ,april #a1 #bjah1 & annually  
!reaft]1 ! ,secret>y ( ,education %all  
provide to in/itutions ( high] education
 7z def9$ 9 section #ajb ( ! ,high]     
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajjb77 ! foll[+ in=mation3  7#a7 ,!    

am\nt ( any loans made "u "p ,d ( title 
,,iv ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajhg;a et seq47 7o!r ?an
 a ,f$]al ,direct ,consolidation ,loan  
or a ,f$]al ,direct ,,plus loan made on 
behalf ( a /ud5t7 expect$ to be disburs$
 to any borr[] = ! next academic ye>4   
7#b7 ,! project$ cumulative balance (   
su* loans1 z det]m9$ 9 accordance )     
section #dhe7n77#e77;,d7 ( su* ,act 7#bj
 ,u4,s4,c4 #ajib7n77#e77;,d771 z add$ by
 ?is ,act1 t w be ow$ by any borr[] aft]
 ! completion ( ! borr[]'s c\rse ( /udy 
at an in/itution ( high] education4     
7#c7 ,! project$ mon?ly paym5t am\nts ( 
su* loans1 z det]m9$ 9 accordance )     
section #dhe7n77#e7 ( ! ,high]          
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajib7n77#e771 assum+ a /&>d repaym5t   
s*$ule 7z describ$ 9 section            
#dee7;d77#a77;,a7 ( su* ,act 7#bj       
,u4,s4,c4 #ajhg;e7d77#a77;,a7774