,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #eeej  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,april #ah1 #bjah,mr4 
,de,fazio introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,education & 
! ,work=ce1 & 9 addition to ! ,committee
 on ,agriculture1 = a p]iod to be       
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to am5d ! ,high]   
,education ,act ( #aife to increase !   
maximum ,f$]al ,pell ,grant am\nt1 & =  
o!r purposes4  #a4 ,%ort title ,?is     
section may be cit$ z ! ,a*iev+         
,indep5d5ce ?r\gh ,degrees ,act or !    
,,aid ,act4  #b4 ,table ( cont5ts ,!    
table ( cont5ts = ?is ,act is z foll[s3 
,sec4 #a4 ,%ort title4 ,sec4 #b4 ,table 
( cont5ts4 ,title ,i--,adju/m5ts to     
,f$]al ,pell ,grants ,sec4 #aja4        
,increase 9 maximum ,f$]al ,pell ,grant 
am\nt4 ,sec4 #ajb4 ,increase 9 total    
seme/]s ( ,f$]al ,pell ,grant           
eligibility4 ,sec4 #ajc4 ,ext5d+ ,f$]al 

,pell ,grant eligibility ( c]ta9        
%ort-t]m programs4 ,title               
,,ii--,f9ancial ,aid ,c\nsel+ = ,borr[]s
 ,sec4 #bja4 ,annual f9ancial aid       
c\nsel+4 ,sec4 #bjb4 ,exit c\nsel+4     
,sec4 #bjc4 ,onl9e c\nsel+ tools4 ,sec4 
#bjd4 ,longitud9al /udy on !            
effectiv5ess ( /ud5t loan c\nsel+4      
,title ,,iii--,repeal ( susp5sion (     
eligibility "u ! ,high] ,education ,act 
( #aife = grants1 loans1 & "w assi/ance 
= drug-relat$ (f5ses ,sec4 #cja4        
,repeal4 ,sec4 #cjb4 ,revision ( ,,fafsa
 =m4 ,title ,,iv--,f9ancial ,aid ,%opp+ 
,%eet ,sec4 #dja4 ,secret>ial           
requirem5ts4 ,sec4 #djb4 ,requirem5ts = 
in/itutions ( high] education4 ,title   
,v--,,snap & ,high] ,education ,sec4    
#eja4 ,,snap treatm5t ( liv+ exp5ses    
includ$ 9 educational loans4 ,sec4 #ejb4
 ,eligibility ( /ud5ts to p>ticipate 9 !
 supplem5tal nutrition assi/ance        
program4  ,i ,adju/m5ts to ,f$]al ,pell 
,grants  #aja4 ,increase 9 maximum      
,f$]al ,pell ,grant am\nt ,section      

#dja7;b77#g77;,c7 ( ! ,high] ,education 
,act ( #aife 7#bj ,u4,s4,c4             
#ajgj;a7b77#g77;,c77 is am5d$ by /rik+  
clauses 7ii7 & 7iii7 & ins]t+ ! foll[+3 
7ii7 ,aw>d ye> #bjai-bjbj ,= aw>d ye>   
#bjai-bjbj1 ! am\nt det]m9$ "u ?is      
subp>agraph = purposes ( subp>agraph    
7,b77iii7 %all be increas$ to #i1igj4   
7iii7 ,subsequ5t aw>d ye>s ,= aw>d ye>  
#bjbj-bjba & ea* subsequ5t aw>d ye>1 !  
am\nt det]m9$ "u ?is subp>agraph =      
purposes ( subp>agraph 7,b77iii7 %all be
 equal to--  7,i7 ! am\nt det]m9$ "u ?is
 subp>agraph = ! prec$+ aw>d ye>2       
increas$ by  7,,ii7 a p]c5tage equal to 
! annual adju/m5t p]c5tage = ! aw>d ye> 
= :i* ! am\nt "u ?is subp>agraph is be+ 
det]m9$2 &  7,,iii7 r\nd$ to ! ne>e/ #e4
  4  #ajb4 ,increase 9 total seme/]s (  
,f$]al ,pell ,grant eligibility ,section
 #dja7;c77#e7 ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajgj;a7c77#e77 
is am5d$ by /rik+ #ab bo? places x      
appe>s & ins]t+ #ae4  #ajc4 ,ext5d+     
,f$]al ,pell ,grant eligibility ( c]ta9 

%ort-t]m programs  7a7 ,9 g5]al ,section
 #dja ( ! ,high] ,education ,act ( #aife
 7#bj ,u4,s4,c4 #ajgj;a71 z am5d$ by    
section #d1 is fur!r am5d$ by ins]t+    
aft] subsection 7j7 ! foll[+3  7k7 ,job 
tra9+ ,f$]al ,pell ,grant program  7#a7 
,def9itions ,9 ?is subsection3 7,a7     
,eligible c>e] pa?way program ,! t]m    
eligible c>e] pa?way program means a    
program t--  7i7 meets ! requirem5ts (  
section #dhd7;d77#b72  7ii7 is a program
 ( tra9+ s]vices li/$ "u includ$ on !   
li/ e/abli%$ "u section #abb7;d7 ( !    
,work=ce ,innovation & ,opportunity ,act
 7#bi ,u4,s4,c4 #caeb7;d772 &  7iii7 is 
"p ( a c>e] pa?way1 z def9$ 9 section #c
 ( su* ,act 7#bi ,u4,s4,c4 #cajb74  7,b7
 ,job tra9+ program ,! t]m job tra9+    
program means a c>e] & te*nical         
education program at an in/itution (    
high] education t--  7i7 provides n less
 ?an #aej1 & n m ?an #fjj1 clock h\rs ( 
in/ructional "t ov] a p]iod ( n less ?an
 #h1 & n m ?an #ae1 weeks2  7ii7        
provides tra9+ align$ ) ! requirem5ts ( 

employ]s 9 ! ,/ate or local area1 :i*   
may include 9-dem& indu/ry sectors or   
occupations1 z def9$ 9 section #c ( !   
,work=ce ,innovation & ,opportunity ,act
 7#bi ,u4,s4,c4 #cajb71 9 ! ,/ate or    
local area 7z def9$ 9 su* section72     
7iii7 is a program ( tra9+ s]vices t is 
provid$ ?r\gh an eligible provid] (     
tra9+ s]vices li/$ "u section #abb7;d7 (
 su* ,act 7#bi ,u4,s4,c4 #caeb7;d772    
7iv7 provides a /ud5t1 ^u completion ( !
 program1 ) a recogniz$ po/second>y     
cr$5tial1 z def9$ 9 section #c ( su*    
,act1 t is recogniz$ by employ]s 9 !    
relevant indu/ry1 includ+ cr$5tials     
recogniz$ by indu/ry or sector p>tn]%ips
 9 ! ,/ate or local area :]e ! indu/ry  
is locat$2  7v7 has be5 det]m9$1 by !   
in/itution ( high] education1 to provide
 academic cont5t1 an am\nt (            
in/ructional "t1 & a recogniz$          
po/second>y cr$5tial t are suffici5t    
to--  7,i7 meet ! hir+ requirem5ts (    
pot5tial employ]s2 &  7,,ii7 satisfy any
 applicable educational pr]equisite     

requirem5t = pr(essional lic5sure or    
c]tification1 s t ! /ud5t :o completes !
 program & seeks employm5t qualifies to 
take any lic5sure or c]tification       
exam9ation ne$$ to practice or f9d      
employm5t 9 an occupation t ! program   
prep>es /ud5ts to ent]2  7vi7 may       
include integrat$ or basic skills       
c\rses2 &  7vii7 may be (f]$ z "p ( an  
eligible c>e] pa?way program4  7#b7     
,grant program ,= ! aw>d ye> beg9n+ on  
,july #a1 #bjai1 & ea* subsequ5t aw>d   
ye>1 ! ,secret>y %all c>ry out a program
 ?r\gh :i* ! ,secret>y %all aw>d job    
tra9+ ,f$]al ,pell ,grants to /ud5ts 9  
job tra9+ programs4 ,ea* job tra9+      
,f$]al ,pell ,grant aw>d$ "u ?is        
subsection %all h ! same t]ms &         
conditions1 & be aw>d$ 9 ! same mann]1 z
 a ,f$]al ,pell ,grant aw>d$ "u         
subsection 7a71 except z foll[s3  7,a7  
,a /ud5t :o is eligible to receive a job
 tra9+ ,f$]al ,pell ,grant "u ?is       
subsection is a /ud5t :o--  7i7 has n   
yet atta9$ a baccalaureate degree or    

po/baccalaureate degree2  7ii7 att5ds an
 in/itution ( high] education2  7iii7 is
 enroll$1 or accept$ = enrollm5t1 9 a   
job tra9+ program at su* in/itution (   
high] education2 &  7iv7 meets all o!r  
eligibility requirem5ts = a ,f$]al ,pell
 ,grant 7except ) respect to ! type (   
program ( /udy1 z provid$ 9 clause      
7iii774  7,b7 ,! am\nt ( a job tra9+    
,f$]al ,pell ,grant = an eligible /ud5t 
%all be det]m9$ "u subsection 7b77#a71  
except t--  7i7 ! maximum ,f$]al ,pell  
,grant aw>d$ "u ?is subsection = an aw>d
 ye> %all be #ej p]c5t ( ! maximum      
,f$]al ,pell ,grant aw>d$ "u subsection 
7b77#e7 applicable to t aw>d ye>2 &     
7ii7 subsection 7b77#d7 %all n apply4   
7#c7 ,inclusion 9 total eligibility     
p]iod ,any p]iod dur+ :i* a /ud5t       
receives a job tra9+ ,f$]al ,pell ,grant
 "u ?is subsection %all be includ$ 9    
calculat+ ! /ud5t's p]iod ( eligibility 
= ,f$]al ,pell ,grants "u subsection    
7c71 & any regulations "u su* subsection
 reg>d+ /ud5ts :o are enroll$ 9 an      

und]graduate program on less ?an a      
full-"t basis %all simil>ly apply to    
/ud5ts :o are enroll$ 9 a job tra9+     
program at an eligible in/itution on    
less ?an a full-"t basis4  4  7b7       
,additional safegu>ds ,section          
#dif7;a77#d7 ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajii;b7a77#d77  
is am5d$-- 7#a7 9 subp>agraph 7,a71 by  
/rik+ & aft] ! semicolon2  7#b7 9       
subp>agraph 7,b77ii71 by ins]t+ & aft] !
 semicolon2 &  7#c7 by add+ at ! end !  
foll[+3  7,c7 if su* ag5cy or           
association has or seeks to include )9  
its scope ( recognition ! evaluation ( !
 quality ( in/itutions ( high] education
 p>ticipat+ 9 ! job tra9+ ,f$]al ,pell  
,grant program "u section #dja7k71 su*  
ag5cy or association %all1 9 addition to
 meet+ ! o!r requirem5ts ( ?is subp>t1  
demon/rate to ! ,secret>y t1 ) respect  
to su* job tra9+ programs--  7i7 ! ag5cy
 or association's /&>ds include a       
process = det]m9+ :e!r ! program        
provides tra9+ align$ ) ! requirem5ts ( 

employ]s 9 ! ,/ate or local area s]v$ by
 ! program2 &  7ii7 ! ag5cy or          
association requires a demon/ration t ! 
program-- 7,i7 has id5tifi$ ea*         
recogniz$ po/second>y cr$5tial (f]$ & ! 
correspond+ indu/ry or sector p>tn]%ip t
 actively recognizes ea* cr$5tial 9 !   
relevant indu/ry 9 ! ,/ate or local area
 :]e ! indu/ry is locat$2 &  7,,ii7     
provides ! academic cont5t & am\nt (    
in/ructional "t t is suffici5t to-- 7aa7
 meet ! hir+ requirem5ts ( pot5tial     
employ]s2 &  7bb7 satisfy any applicable
 educational pr]equisites = pr(essional 
lic5sure or c]tification requirem5ts s t
 ! /ud5t :o completes ! program & seeks 
employm5t qualifies to take any lic5sure
 or c]tification exam9ation t is ne$$ to
 practice or f9d employm5t 9 an         
occupation t ! program prep>es /ud5ts to
 ent]2  4  ,,ii ,f9ancial ,aid ,c\nsel+ 
= ,borr[]s  #bja4 ,annual f9ancial aid  
c\nsel+ ,section #dhe7l7 ( ! ,high]     
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajib7l77 is am5d$ to read z foll[s3    

7l7 ,annual f9ancial aid c\nsel+  7#a7  
,annual disclosure requir$  7,a7 ,9     
g5]al ,ea* eligible in/itution %all     
ensure t ea* individual :o receives a   
loan made "u "p ,d 7o!r ?an a ,f$]al    
,direct ,consolidation ,loan7 receives  
compreh5sive in=mation on ! t]ms &      
conditions ( su* loan & !               
responsibilities ! individual has )     
respect to su* loan4 ,su* in=mation %all
 be provid$1 = ea* aw>d ye> = :i* !     
individual receives su* loan1 9 a simple
 & und]/&able mann]--  7i7 dur+ a       
c\nsel+ session conduct$ 9 p]son2  7ii7 
onl9e1 ) ! individual ackn[l$g+ receipt 
( ! in=mation2 or  7iii7 ?r\gh ! use ( !
 onl9e c\nsel+ tool describ$ 9          
subsection 7k77#a77;,b74  7,b7 ,use (   
int]active programs ,9 ! case (         
in/itutions n us+ ! onl9e c\nsel+ tool  
describ$ 9 subsection 7k77#a77;,b71 !   
,secret>y %all require su* in/itutions  
to c>ry out ! requirem5ts ( subp>agraph 
7,a7 ?r\gh ! use ( int]active programs1 
dur+ an annual c\nsel+ session t is     

9-p]son or onl9e1 t te/ ! individual's  
und]/&+ ( ! t]ms & conditions ( ! loan  
aw>d$ to ! individual1 us+ simple &     
und]/&able language & cle> =matt+4  7#b7
 ,all individuals ,! in=mation to be    
provid$ "u p>agraph 7#a77;,a7 to ea*    
individual receiv+ c\nsel+ "u ?is       
subsection %all include ! foll[+3  7,a7 
,an explanation ( h[ ! individual may   
budget = typical educational exp5ses & a
 sample budget bas$ on ! co/ ( att5dance
 = ! in/itution4  7,b7 ,an explanation t
 an individual has a "r to annually     
reque/ a disclosure ( in=mation collect$
 by a consum] report+ ag5cy pursuant to 
section #fab7;a7 ( ! ,fair ,cr$it       
,report+ ,act 7#ae ,u4,s4,c4            
#afha;j7a774  7,c7 ,bas$ on ! mo/ rec5t 
data available f ! ,am]ican ,community  
,survey available f ! ,dep>tm5t (       
,comm]ce1 ! e/imat$ av]age income &     
p]c5tage ( employm5t 9 ! ,/ate (        
domicile ( ! individual = individuals   
)--  7i7 a high s*ool diploma or        
equival5t2  7ii7 "s po/-second>y        

education )\t completion ( a degree or  
c]tificate2 &  7iii7 a ba*elor's degree4
  7,d7 ,an introduction to ! f9ancial   
managem5t res\rces provid$ by !         
,f9ancial ,lit]acy & ,education         
,commission4  7#c7 ,borr[]s receiv+     
loans made "u "p ,d 7o!r ?an ,p>5t      
,,plus ,loans7 ,! in=mation to be       
provid$ "u p>agraph 7#a77;,a7 to a      
borr[] ( a loan made "u "p ,d 7o!r ?an a
 ,f$]al ,direct ,,plus ,loan made on    
behalf ( a dep5d5t /ud5t7 %all include !
 foll[+3  7,a7 ,to ! ext5t practicable1 
! effect ( accept+ ! loan to be disburs$
 on ! eligibility ( ! borr[] = o!r =ms (
 /ud5t f9ancial assi/ance4  7,b7 ,an    
explanation ( ! use ( ! ma/] promissory 
note4  7,c7 ,an explanation t ! borr[]  
is n requir$ to accept ! full am\nt ( ! 
loan (f]$ to ! borr[]4  7,d7 ,an        
explanation t ! borr[] %\ld consid]     
accept+ any grant1 s*ol>%ip1 or ,/ate or
 ,f$]al "w-/udy jobs = :i* ! borr[] is  
eligible prior to accept+ ,f$]al /ud5t  
loans4  7,e7 ,a recomm5dation to !      

borr[] to exhau/ ! borr[]'s ,f$]al /ud5t
 loan options prior to tak+ out private 
education loans1 an explanation t ,f$]al
 /ud5t loans typically (f] bett] t]ms & 
conditions ?an private education loans1 
an explanation ( treatm5t ( loans made  
"u "p ,d & private education loans 9    
bankruptcy1 & an explanation t if a     
borr[] decides to take out a private    
education loan--  7i7 ! borr[] has !    
ability to select a private educational 
l5d] ( ! borr[]'s *oice2  7ii7 ! propos$
 private education loan may impact !    
borr[]'s pot5tial eligibility = o!r     
f9ancial assi/ance1 includ+ ,f$]al      
f9ancial assi/ance "u ?is title2 &      
7iii7 ! borr[] has a "r-- 7,i7 to accept
 ! t]ms ( ! private education loan )9   
#cj cal5d> days foll[+ ! date on :i* !  
application = su* loan is approv$ & !   
borr[] receives ! requir$ disclosure    
docum5ts1 pursuant to section #abh7;e7 (
 ! ,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4    
#afch7;e772 &  7,,ii7 to cancel su* loan
 )9 #c bus9ess days ( ! date on :i* !   

loan is consummat$1 pursuant to section 
#abh7;e77#g7 ( su* ,act 7#ae ,u4,s4,c4  
#afch7;e77#g774  7,f7 ,an explanation ( 
! approv$ educational exp5ses = :i* !   
borr[] may use a loan made "u "p ,d4    
7,g7 ,in=mation on ! annual & aggregate 
loan limits = ,f$]al ,direct ,/af=d     
,loans & ,f$]al ,direct ,unsubsidiz$    
,/af=d ,loans4  7,h7 ,in=mation on h[   
int]e/ accrues & is capitaliz$ dur+     
p]iods :5 ! int]e/ is n paid by ei!r !  
borr[] or ! ,secret>y4  7,i7 ,9 ! case (
 a ,f$]al ,direct ,,plus ,loan or a     
,f$]al ,direct ,unsubsidiz$ ,/af=d      
,loan1 ! option ( ! borr[] to pay !     
int]e/ :ile ! borr[] is 9 s*ool4  7,j7  
,! def9ition ( half-"t enrollm5t at !   
in/itution1 dur+ regul> t]ms & summ]    
s*ool1 if applicable1 & ! consequ5ces ( 
n ma9ta9+ at lea/ half-"t enrollm5t4    
7,k7 ,an explanation ( ! importance (   
contact+ ! appropriate (fices at !      
in/itution ( high] education if ! borr[]
 )draws prior to complet+ ! borr[]'s    
program ( /udy s t ! in/itution c       

provide exit c\nsel+1 includ+ in=mation 
reg>d+ ! borr[]'s repaym5t options &    
loan consolidation4  7,l7 ,= a fir/-"t  
borr[]-- 7i7 a /atem5t ( ! anticipat$   
balance on ! loan = :i* ! borr[] is     
receiv+ c\nsel+ "u ?is subsection2  7ii7
 bas$ on su* anticipat$ balance1 !      
anticipat$ mon?ly paym5t am\nt "u1 at   
m9imum-- 7,i7 ! /&>d repaym5t plan2 &   
7,,ii7 an income-bas$ repaym5t plan "u  
section #dic;,c1 z det]m9$ us+          
regionally available data f ! ,bureau ( 
,labor ,/ati/ics ( ! av]age />t+ sal>y =
 ! occupation 9 :i* ! borr[] has an     
int]e/ 9 or int5ds to be employ$2 &     
7iii7 an e/imate ( ! project$ mon?ly    
paym5t am\nt "u ea* repaym5t plan       
describ$ 9 clause 7ii71 bas$ on ! av]age
 cumulative indebt$ness at graduation = 
borr[]s ( loans made "u "p ,d :o are 9 !
 same program ( /udy z ! borr[]4  7,m7  
,= a borr[] ) an out/&+ balance (       
pr9cipal or int]e/ due on a loan made "u
 ?is title--  7i7 a curr5t /atem5t ( !  
am\nt ( su* out/&+ balance & int]e/     

accru$2  7ii7 bas$ on su* out/&+        
balance1 ! anticipat$ mon?ly paym5t     
am\nt "u1 at m9imum1 ! /&>d repaym5t    
plan &1 us+ regionally available data f 
! ,bureau ( ,labor ,/ati/ics ( ! av]age 
/>t+ sal>y = ! occupation ! borr[]      
int5ds to be employ$1 an income-bas$    
repaym5t plan "u section #dic;,c2 &     
7iii7 an e/imate ( ! project$ mon?ly    
paym5t am\nt "u ea* repaym5t plan       
describ$ 9 clause 7ii71 bas$ on--  7,i7 
! out/&+ balance describ$ 9 clause 7i72 
7,,ii7 ! anticipat$ out/&+ balance on ! 
loan = :i* ! /ud5t is receiv+ c\nsel+ "u
 ?is subsection2 &  7,,iii7 a projection
 = any o!r loans made "u "p ,d t !      
borr[] is reasonably expect$ to accept  
dur+ ! borr[]'s program ( /udy bas$ on  
at lea/ ! expect$ increase 9 ! co/ (    
att5dance ( su* program4  7,n7 ,!       
obligation ( ! borr[] to repay ! full   
am\nt ( ! loan1 reg>dless ( :e!r !      
borr[] completes or does n complete !   
program 9 :i* ! borr[] is enroll$ )9 !  
regul> "t = program completion4  7,o7 ,!

 likely consequ5ces ( default on ! loan1
 includ+ adv]se cr$it reports1 del9qu5t 
debt collection proc$ures "u ,f$]al law1
 & litigation1 & a notice ( !           
in/itution's mo/ rec5t cohort default   
rate 7def9$ 9 section #dce7m771 an      
explanation ( ! cohort default rate1 !  
mo/ rec5t national av]age cohort default
 rate1 & ! mo/ rec5t national av]age    
cohort default rate = ! category (      
in/itution describ$ 9 section           
#dce7m77#d7 to :i* ! in/itution belongs4
  7,p7 ,in=mation on ! ,national ,/ud5t 
,loan ,data ,sy/em & h[ ! borr[] c      
access ! borr[]'s records4  7,q7 ,!     
contact in=mation = ! in/itution's      
f9ancial aid (fice or o!r appropriate   
(fice at ! in/itution ! borr[] may      
contact if ! borr[] has any que/ions    
ab\t ! borr[]'s rights &                
responsibilities or ! t]ms & conditions 
( ! loan4  7#d7 ,borr[]s receiv+ ,p>5t  
,,plus ,loans = dep5d5t /ud5ts ,!       
in=mation to be provid$ "u p>agraph     
7#a77;,a7 to a borr[] ( a ,f$]al ,direct

 ,,plus ,loan made on behalf ( a dep5d5t
 /ud5t %all include ! foll[+3  7,a7 ,!  
in=mation describ$ 9 subp>agraphs 7,a7  
?r\gh 7,c7 & 7,n7 ?r\gh 7,q7 ( p>agraph 
7#c74  7,b7 ,! option ( ! borr[] to pay 
! int]e/ on ! loan :ile ! loan is 9     
def]m5t4  7,c7 ,= a fir/-"t borr[] ( su*
 loan-- 7i7 a /atem5t ( ! anticipat$    
balance on ! loan = :i* ! borr[] is     
receiv+ c\nsel+ "u ?is subsection2  7ii7
 bas$ on su* anticipat$ balance1 !      
anticipat$ mon?ly paym5t am\nt "u ! /&>d
 repaym5t plan2 &  7iii7 an e/imate ( ! 
project$ mon?ly paym5t am\nt "u ! /&>d  
repaym5t plan1 bas$ on ! av]age         
cumulative indebt$ness ( o!r borr[]s (  
,f$]al ,direct ,,plus ,loans made on    
behalf ( dep5d5t /ud5ts :o are 9 ! same 
program ( /udy z ! /ud5t on ^: behalf ! 
borr[] borr[$ ! loan4  7,d7 ,= a borr[] 
) an out/&+ balance ( pr9cipal or int]e/
 due on su* loan-- 7i7 a /atem5t ( !    
am\nt ( su* out/&+ balance2  7ii7 bas$  
on su* out/&+ balance1 ! anticipat$     
mon?ly paym5t am\nt "u ! /&>d repaym5t  

plan2 &  7iii7 an e/imate ( ! project$  
mon?ly paym5t am\nt "u ! /&>d repaym5t  
plan1 bas$ on-- 7,i7 ! out/&+ balance   
describ$ 9 clause 7i72  7,,ii7 !        
anticipat$ out/&+ balance on ! loan =   
:i* ! borr[] is receiv+ c\nsel+ "u ?is  
subsection2 &  7,,iii7 a projection =   
any o!r ,f$]al ,direct ,,plus ,loan made
 on behalf ( ! dep5d5t /ud5t t ! borr[] 
is reasonably expect$ to accept dur+ !  
program ( /udy ( su* /ud5t bas$ on at   
lea/ ! expect$ increase 9 ! co/ (       
att5dance ( su* program4  7,e7 ,debt    
managem5t /rategies t are design$ to    
facilitate ! repaym5t ( su* indebt$ness4
  7,f7 ,an explanation t ! borr[] has ! 
options to prepay ea* loan1 pay ea* loan
 on a %ort] s*$ule1 & *ange repaym5t    
plans4  7,g7 ,= ea* ,f$]al ,direct      
,,plus ,loan made on behalf ( a dep5d5t 
/ud5t = :i* ! borr[] is receiv+ c\nsel+ 
"u ?is subsection1 ! contact in=mation =
 ! loan s]vic] ( ! loan & a l9k to su*  
s]vic]'s ,website4  7#e7 ,annual loan   
acceptance ,prior to mak+ ! fir/        

disbursem5t ( a loan made "u "p ,d 7o!r 
?an a ,f$]al ,direct ,consolidation     
,loan7 to a borr[] = an aw>d ye>1 an    
eligible in/itution1 %all1 z "p ( c>ry+ 
out ! c\nsel+ requirem5ts ( ?is         
subsection = ! loan1 ensure t aft]      
receiv+ ! applicable c\nsel+ "u         
p>agraphs 7#b71 7#c71 & 7#d7 = ! loan ! 
borr[] accepts ! loan = su* aw>d ye>    
by--  7,a7 sign+ ! ma/] promissory note 
= ! loan2  7,b7 sign+ & return+ to !    
in/itution a sep>ate writt5 /atem5t t   
affirmatively /ates t ! borr[] accepts !
 loan2 or  7,c7 electronically sign+ an 
electronic v]sion ( ! /atem5t describ$ 9
 subp>agraph 7,b74  4  #bjb4 ,exit      
c\nsel+ ,section #dhe7;b7 ( ! ,high]    
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajib7;b77 is am5d$--  7#a7 9 p>agraph  
7#a77;,a7-- 7,a7 9 ! matt] prec$+ clause
 7i71 by /rik+ ?r\gh f9ancial aid (fices
 or o!rwise & ins]t+ ?r\gh ! use ( an   
int]active program1 dur+ an exit c\nsel+
 session t is 9-p]son or onl9e1 or ?r\gh
 ! use ( ! onl9e c\nsel+ tool describ$ 9

 subsection 7k77#a77;,a72  7,b7 by      
r$esignat+ clauses 7i7 ?r\gh 7ix7 z     
clauses 7iv7 ?r\gh 7xii71 respectively2 
7,c7 by ins]t+ be=e clause 7iv71 z s    
r$esignat$1 ! foll[+3  7i7 a summ>y ( ! 
out/&+ balance ( pr9cipal & int]e/ due  
on ! loans made to ! borr[] "u "p ,b1   
,d1 or ,e2  7ii7 an explanation ( !     
grace p]iod prec$+ repaym5t & ! expect$ 
date t ! borr[] w ent] repaym5t2 &      
7iii7 an explanation t ! borr[] has !   
option to pay any int]e/ t has accru$   
:ile ! borr[] 0 9 s*ool or t may accrue 
dur+ ! grace p]iod prec$+ repaym5t or   
dur+ an au?oriz$ p]iod ( def]m5t or     
=be>ance1 prior to ! capitalization ( ! 
int]e/2  2  7,d7 9 clause 7iv71 z s     
r$esignat$-- 7i7 by /rik+ sample        
in=mation %[+ ! av]age & ins]t+         
in=mation1 bas$ on ! borr[]'s out/&+    
balance describ$ 9 clause 7i71 %[+ !    
borr[]'s2 &  7ii7 by /rik+ ( ea* plan & 
ins]t+ ( at lea/ ! /&>d repaym5t plan & 
! income-bas$ repaym5t plan "u section  
#dic;,c2  7,e7 9 clause 7ix71 z s       

r$esignat$--  7i7 by ins]t+ decreas$    
cr$it score1 aft] cr$it reports12 &     
7ii7 by ins]t+ r$uc$ ability to r5t or  
pur*ase a home or c>1 pot5tial          
difficulty 9 secur+ employm5t1 aft]     
,f$]al law12  7,f7 9 clause 7x71 z s    
r$esignat$1 by /rik+ consolidation loan 
"u section #dbh;,c or a2  7,g7 9 clauses
 7xi7 & 7xii71 z s r$esignat$1 by /rik+ 
& at ! end2 &  7,h7 by add+ at ! end !  
foll[+3  7xiii7 = ea* ( ! borr[]'s loans
 made "u "p ,b1 ,d1 or ,e = :i* ! borr[]
 is receiv+ c\nsel+ "u ?is subsection1 !
 contact in=mation = ! loan s]vic] ( !  
loan & a l9k to su* s]vic]'s ,website2 &
  7xiv7 an explanation t an individual  
has a "r to annually reque/ a disclosure
 ( in=mation collect$ by a consum]      
report+ ag5cy pursuant to section       
#fab7;a7 ( ! ,fair ,cr$it ,report+ ,act 
7#ae ,u4,s4,c4 #afha;j7a774  2  7#b7 9  
p>agraph 7#a77;,b7-- 7,a7 by ins]t+     
onl9e or be=e 9 writ+2 &  7,b7 by add+  
be=e ! p]iod at ! end ! foll[+3 1 except
 t 9 ! case ( an in/itution us+ ! onl9e 

c\nsel+ tool describ$ 9 subsection      
7k77#a77;,a71 ! ,secret>y %all attempt  
to provide su* in=mation to ! /ud5t 9 ! 
mann] describ$ 9 subsection             
7k77#c77;,c72 &  7#c7 9 p>agraph        
7#b77;,c71 by ins]t+ 1 su* z ! onl9e    
c\nsel+ tool describ$ 9 subsection      
7k77#a77;,a71 aft] electronic means4    
#bjc4 ,onl9e c\nsel+ tools ,section     
#dhe7k7 ( ! ,high] ,education ,act (    
#aife 7#bj ,u4,s4,c4 #ajib7 is am5d$ to 
read z foll[s3  7k7 ,onl9e c\nsel+ tools
  7#a7 ,9 g5]al ,beg9n+ n lat] ?an #a   
ye> aft] ! date ( enactm5t ( ! ,a*iev+  
,indep5d5ce ?r\gh ,degrees ,act1 !      
,secret>y %all ma9ta9-- 7,a7 an onl9e   
c\nsel+ tool t provides ! exit c\nsel+  
requir$ "u subsection 7b7 & meets !     
applicable requirem5ts ( ?is subsection2
 &  7,b7 an onl9e c\nsel+ tool t        
provides ! annual c\nsel+ requir$ "u    
subsection 7l7 & meets ! applicable     
requirem5ts ( ?is subsection4  7#b7     
,requirem5ts ( tools ,9 ma9ta9+ ! onl9e 
c\nsel+ tools describ$ 9 p>agraph 7#a71 

! ,secret>y %all ensure t ea* su* tool  
is--  7,a7 consum] te/$1 9 consultation 
) o!r relevant ,f$]al ag5cies1 to ensure
 t ! tool is effective 9 help+          
individuals und]/& _! rights &          
obligations ) respect to borr[+ a loan  
made "u "p ,d2  7,b7 und]/&able to      
/ud5ts :o are borr[]s ( loans made "u "p
 ,d2 &  7,c7 freely available to all    
eligible in/itutions4  7#c7 ,record (   
c\nsel+ completion ,! ,secret>y %all--  
7,a7 use ea* onl9e c\nsel+ tool describ$
 9 p>agraph 7#a7 to keep a record ( :i* 
individuals h receiv$ c\nsel+ us+ !     
tool1 & notify ! applicable in/itutions 
( ! individual's completion ( su*       
c\nsel+2  7,b7 9 ! case ( a borr[] :o   
receives annual c\nsel+ = a loan made "u
 "p ,d us+ ! tool describ$ 9 p>agraph   
7#a77;,b71 notify ! borr[] by :5 !      
borr[] %\ld accept1 9 a mann] describ$ 9
 subsection 7l77#f71 ! loan = :i* !     
borr[] has receiv$ su* c\nsel+2 &  7,c7 
9 ! case ( a borr[] describ$ 9          
subsection 7b77#a77;,b7 at an in/itution

 t uses ! onl9e c\nsel+ tool describ$ 9 
p>agraph 7#a77;,a7 ( ?is subsection1 !  
,secret>y %all attempt to provide !     
in=mation describ$ 9 subsection         
7b77#a77;,a7 to ! borr[] ?r\gh su* tool4
  4  #bjd4 ,longitud9al /udy on !       
effectiv5ess ( /ud5t loan c\nsel+  7a7  
,9 g5]al ,n lat] ?an #a ye> aft] ! date 
( enactm5t ( ?is ,act1 ! ,secret>y (    
,education1 act+ ?r\gh ! ,director ( !  
,in/itute ( ,education ,sci5ces1 %all   
beg9 conduct+ a rigor\s1 longitud9al    
/udy ( ! impact & effectiv5ess ( ! /ud5t
 loan c\nsel+--  7#a7 provid$ "u        
subsections 7b71 7l71 & 7k7 ( section   
#dhe ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajib71 z am5d$ by ?is   
,act2 &  7#b7 provid$ ?r\gh su* o!r     
means z ! ,secret>y ( ,education may    
det]m9e4  7b7 ,cont5ts  7#a7 ,borr[]    
in=mation ,! longitud9al /udy c>ri$ out 
"u subsection 7a7 %all include borr[]   
in=mation1 9 ! aggregate & disaggregat$ 
by race1 e?nicity1 g5d]1 income1 & /atus
 z an individual ) a disability1 on--   

7,a7 /ud5t p]si/5ce2  7,b7 degree       
atta9m5t2  7,c7 program completion2     
7,d7 successful entry into /ud5t loan   
repaym5t2  7,e7 cumulative borr[+       
levels2 &  7,f7 su* o!r factors z !     
,secret>y ( ,education may det]m9e4     
7#b7 ,exception ,! disaggregation "u    
p>agraph 7#a7 %all n be requir$ 9 a case
 9 :i* ! numb] ( borr[]s 9 a category is
 insuffici5t to yield /ati/ically       
reliable in=mation or ! results w\ld    
reveal p]sonally id5tifiable in=mation  
ab\t an individual borr[]4  7c7 ,int]im 
reports ,n lat] ?an #ah mon?s aft] !    
comm5cem5t ( ! /udy "u subsection 7a71 &
 annually !reaft]1 ! ,secret>y (        
,education %all evaluate ! progress ( ! 
/udy & report any %ort-t]m f9d+s to !   
appropriate committees ( ,congress4     
,,iii ,repeal ( ,susp5sion (            
,eligibility ,"u ! ,high] ,education    
,act ( #aife = ,grants1 ,loans1 & ,"w   
,assi/ance = ,drug-,relat$ ,(f5ses      
#cja4 ,repeal  7a7 ,9 g5]al ,section    
#dhd ( ! ,high] ,education ,act ( #aife 

7#bj ,u4,s4,c4 #ajia7 is am5d$ by /rik+ 
subsection 7r74  7b7 ,con=m+ am5dm5ts   
,section #dhd ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajia7 is am5d$ 
by r$esignat+ subsections 7s71 7t71 &   
7u7 z subsections 7r71 7s71 & 7t71      
respectively4  #cjb4 ,revision ( ,,fafsa
 =m ,section #dhc ( ! ,high] ,education 
,act ( #aife 7#bj ,u4,s4,c4 #ajij7 is   
am5d$ by add+ at ! end ! foll[+3  7i7   
,convictions ,! ,secret>y %all n include
 any "q ab\t ! conviction ( an applicant
 = ! possession or sale ( illegal drugs 
on ! ,,fafsa 7or any o!r =m develop$ "u 
subsection 7a774  4  ,,iv ,f9ancial ,aid
 ,%opp+ ,%eet  #dja4 ,secret>ial        
requirem5ts  7a7 ,9 g5]al ,n lat] #a ye>
 aft] ! date ( enactm5t ( ?is ,act1 !   
,secret>y ( ,education1 9 consultation )
 ! ,secret>ies ( ,def5se & ,vet]ans     
,affairs1 %all develop & f9alize a      
f9ancial %opp+ %eet t ensures ea*       
in/itution ( high] education provides   
mean+ful in=mation ab\t ! f9ancial co/ &
 quality ( su* in/itution to /ud5ts     

7includ+ /ud5ts :o h au?oriz$ !         
,dep>tm5t ( ,education to s5d ! /ud5t's 
,in/itutional ,/ud5t ,in=mation ,record 
to su* in/itution7 to assi/ su* /ud5ts 9
 det]m9+ h[ to use f9ancial aid to att5d
 su* in/itution1 & :i*--  7#a7 is       
/&>diz$ s t x c be us$ by all           
in/itutions ( high] education2  7#b7 is 
consum] te/$1 & pres5t$ 9 a mann] t is  
simple & easily und]/&able2 &  7#c7 is  
p]sonaliz$ = ea* /ud5t :o receives su*  
%eet by includ+-- 7,a7 ! co/ ( att5dance
 ( ! educational program 9 :i* ! /ud5t  
is enroll$ or seeks to be enroll$2  7,b7
 ! type ( ,f$]al educational b5efits    
available to assi/ 9 cov]+ su* co/ (    
att5dance1 includ+ loans & grants "u    
title ,,iv ( ! ,high] ,education ,act ( 
#aife2  7,c7 ! am\nt ( f9ancial aid1    
includ+ ,f$]al1 ,/ate1 in/itutional1 or 
o!r aid t c be us$ to assi/ 9 cov]+ su* 
co/ ( att5dance2  7,d7 in=mation ab\t   
/ud5t outcomes = /ud5ts :o graduate f   
su* educational program1 includ+1 bas$  
^u ! mo/ rec5t data available--  7i7 !  

graduation rate2  7ii7 ! loan repaym5t  
rate2 &  7iii7 ! e/imat$ loan debt ^u   
graduation2 &  7,e7 any o!r in=mation t 
facilitates comp>ison ( aid packages    
(f]$ by diff]5t in/itutions ( high]     
education4  7b7 ,def9itions ,9 ?is      
subsection3 7#a7 ,co/ ( att5dance ,! t]m
 co/ ( att5dance has ! mean+ giv5 ! t]m 
9 section #dgb ( ! ,high] ,education    
,act ( #aife 7#bj ,u4,s4,c4 #ajhgll74   
7#b7 ,in/itution ( high] education ,!   
t]m in/itution ( high] education has !  
mean+ giv5 ! t]m 9 section #ajb ( !     
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajjb74  #djb4 ,requirem5ts = 
in/itutions ( high] education ,section  
#dhg7;a7 ( ! ,high] ,education ,act (   
#aife 7#bj ,u4,s4,c4 #ajid7;a77 is am5d$
 by add+ at ! end ! foll[+3  7#cj7 ,!   
in/itution w use a f9ancial aid %opp+   
%eet describ$ 9 #dja7;a7 ( ! ,a*iev+    
,indep5d5ce ?r\gh ,degrees ,act z its   
sole f9ancial aw>d lett] or include su* 
%eet z a supplem5tal cov] to su*        
f9ancial aw>d lett]4  4  ,v ,,snap &    

,high] ,education  #eja4 ,,snap treatm5t
 ( liv+ exp5ses includ$ 9 educational   
loans ,section #e ( ! ,food & ,nutrition
 ,act ( #bjjh 7#g ,u4,s4,c4 #bjad7 is   
am5d$-- 7#a7 9 subsection 7d7--  7,a7 9 
p>agraph 7#c77;,b7 by /rik+ o!r ?an &   
ins]t+ includ+2 &  7,b7 9 ! proviso (   
p>agraph 7#e7 by /rik+ 1 & no portion & 
all t foll[s ?r\gh exp5ses12 &  7#b7 9  
subsection 7k7-- 7,a7 by /rik+ p>agraph 
7#c72 &  7,b7 by r$esignat+ p>agraph    
7#d7 z p>agraph 7#c74  #ejb4            
,eligibility ( /ud5ts to p>ticipate 9 ! 
supplem5tal nutrition assi/ance program 
,section #f7;e7 ( ! ,food & ,nutrition  
,act ( #bjjh 7#g ,u4,s4,c4 #bjae7;e77 is
 am5d$--  7#a7 9 p>agraph 7#g7 by /rik+ 
or at ! end2  7#b7 9 p>agraph 7#h7 by   
/rik+ ! p]iod at ! end & ins]t+ a       
semicolon2 &  7#c7 by add+ at ! end !   
foll[+3  7#i7 has an expect$ family     
contribution ( z]o1 z det]m9$ by !      
proc$ures e/abli%$ 9 "p ,f ( title ,,iv 
( ! ,high] ,education ,act ( #aife 7#bj 
,u4,s4,c4 #ajhgkk-#ajhgvv72 or  7#aj7 is

 det]m9$ to be indep5d5t bas$ on "o ( ! 
crit]ia specifi$ 9 subp>agraphs 7,b71   
7,c71 7,d71 7,g71 & 7,h7 ( section      
#dhj7;d77#a7 ( ! ,high] ,education ,act 
7#bj ,u4,s4,c4 #ajhgvv74  4