,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #cjea  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #bc1 #bjag,mr4  
,wel* 7= himself & ,mr4 ,katko7         
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,education & ! ,work=ce
  ,a ,,bill  ,to am5d ! ,high]          
,education ,act ( #aife to require      
contractors to provide c]ta9 annual     
disclosures dur+ a p]iod ( loan         
repaym5t1 & = o!r purposes4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,educat+
 ,/ud5t ,loan ,borr[]s ,act ( #bjag4    
#b4 ,disclosures requir$ dur+ loan      
repaym5t  7a7 ,contractor requir$       
disclosures ,section #dee7p7 ( ! ,high] 
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;e7p77 is am5d$-- 7#a7 by /rik+    
,ea* in/itution & ins]t+ ! foll[+3  7#a7
 ,9 g5]al ,ea* in/itution  2 &  7#b7 by 
add+ at ! end ! foll[+3  7#b7 ,annual   
requir$ disclosures  7,a7 ,annual       
disclosure ,9 addition to ! disclosures 
requir$ "u p>agraph 7#a71 ea* contractor
 describ$ 9 su* p>agraph %all provide ! 

borr[] ( a loan made "u ?is "p ) a      
disclosure ea* ye> 9 :i* a paym5t is due
 to su* contractor on su* loan t        
includes--  7i7 a description ( !       
repaym5t plans available to ! borr[]1   
includ+ h[ ! borr[] %\ld reque/ a *ange 
9 repaym5t plan2  7ii7 a description (  
repaym5t plans available to public      
s]vice employees2  7iii7 a g5]al        
description ( ! t]ms & conditions "u :i*
 ! borr[] may obta9 full or p>tial      
=giv5ess or cancellation ( ! pr9cipal & 
int]e/ ( a loan made "u ?is "p2  7iv7 ) 
respect to-- 7,i7 a borr[] repay+ a loan
 "u an income cont+5t repaym5t plan "u  
subsection 7e71 a rem9d] to provide !   
,secret>y ! income in=mation necess>y to
 det]m9e ! borr[]'s annual repaym5t     
obligation "u su* subsection2 &  7,,ii7 
a borr[] repay+ a loan "u an income-bas$
 repaym5t plan "u section #dic;,c1 a    
rem9d] to provide ! ,secret>y ) ! income
 in=mation necess>y to det]m9e !        
borr[]'s annual repaym5t obligation "u  
su* section2 &  7v7 recomm5dations on   

:]e to obta9 m detail$ in=mation on     
repaym5t plans & loan =giv5ess1 includ+ 
a l9k to ! appropriate page ( !         
,dep>tm5t's website ) respect to su*    
in=mation4  7,b7 ,requirem5ts ,!        
in=mation includ$ 9 a disclosure requir$
 "u subp>agraph 7,a7 %all-- 7i7 be      
provid$ to ! borr[] ( a loan made "u ?is
 "p n lat] ?an ,m>* #a ( ea* ye> 9 :i* a
 paym5t is due on su* loan2  7ii7 be    
correctly label$ to indicate t su*      
in=mation is available f ! ,dep>tm5t2   
7iii7 n be label$ to indicate t su*     
in=mation is creat$ by ! contractor2 &  
7iv7 to ! ext5t practicable1 be         
dissem9at$ 9 bo? physical & electronic  
=m to ! borr[]4  7,c7 ,consum] te/$     
in=mation ,! ,secret>y %all ensure t !  
,dep>tm5t in=mation provid$ to borr[]s  
"u subp>agraph 7,a77iii7 is consum] te/$
 & updat$ p]iodically4  4  7b7 ,dep>tm5t
 guidance ,n lat] ?an #ahj days aft] !  
date ( ! enactm5t ( ?is ,act1 !         
,secret>y %all issue guidance ) respect 
to ! in=mation requir$ to be disclos$ "u

 p>agraph 7#b7 ( section #dee7p7 ( !    
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg;e7p771 z am5d$ by ?is   
section4