,i #aah? ,,congress #a/ ,session ,h4 ,r4 #dfaf ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #ac1 #bjbc,mr4 ,gro?man introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,education & ! ,work=ce ,a ,,bill ,to modify requirem5ts relat+ to f9ancial aid disclosures4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,in=m$ ,/ud5t ,borr[+ ,act ( #bjbc4 #b4 ,entrance c\nsel+ f9ancial aid disclosures ,section #dhe7l7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajib7l77 is am5d$-- 7#a7 9 ! subsection head+1 by /rik+ ,entrance2 7#b7 9 p>agraph 7#a77;,a7-- 7,a7 9 ! matt] prec$+ clause 7i71 by /rik+ a disbursem5t to a fir/-"t borr[] & ins]t+ ! fir/ disbursem5t to a borr[] 9 ea* aw>d ye>2 7,b7 9 ! matt] prec$+ subclause 7,i7 ( p>agraph clause 7ii71 by /rik+ may & ins]t+ %all2 7#c7 9 p>agraph 7#b7-- 7,a7 by r$esignat+ subp>agraphs 7,a7 ?r\gh 7,k7 z subp>agraphs 7,b7 ?r\gh 7,l72 7,b7 by ins]t+ be=e subp>agraph 7,b71 z s r$esignat$1 ! foll[+3 7,a7 ,an explanation t ! borr[] w ne$ to affirmatively det]m9e & manually ent]1 9 accordance ) subsection 7n71 ! ,f$]al loan am\nt t ! borr[] w borr[ 7:i* may be equal to or less ?an ! ,f$]al loan am\nt = :i* ! borr[] is eligible7 = ea* aw>d ye>4 2 7,c7 by /rik+ subp>agraph 7,g7 & ins]t+ ! foll[+3 7,g7 ,sample mon?ly repaym5t am\nts1 "u a /&>d repaym5t plan & "u ! income-driv5 repaym5t plan t _h ! highe/ enrollm5t 9 ! previ\s ye> = borr[]s 7exclud+ p>5t borr[]s71 bas$ on-- 7i7 7,i7 ! m$ian levels ( indebt$ness1 z appropriate1 (-- 7aa7 und]graduate borr[]s ( ,f$]al ,direct ,/af=d ,loans or ,f$]al ,unsubsidiz$ ,/af=d ,loans :o 7 enroll$ 9 ! in/itution2 7bb7 graduate borr[]s ( ,f$]al ,direct ,/af=d ,loans1 ,f$]al ,unsubsidiz$ ,/af=d ,loans1 or ,f$]al ,direct ,plus ,loans :o 7 enroll$ 9 ! in/itution2 & 7cc7 p>5t borr[]s ( ,f$]al ,direct ,plus ,loans made on behalf ( dep5d5t /ud5ts :o 7 enroll$ at ! in/itution2 7,,ii7 ! m$ian cumulative indebt$ness ( borr[]s ( loans describ$ 9 subclause 7,i7 9 ! same program z ! borr[] at ! same in/itution2 & 7ii7 ! m$ian annual e>n+s = individuals :o att5d$ ! in/itution1 z describ$ 9 subp>agraph 7,n74 2 & 7,d7 by add+ at ! end ! foll[+3 7,m7 ,a /atem5t t ! borr[] does n h to accept ! full am\nt ( loans = :i* ! borr[] is eligible1 & an explanation t loan eligibility calculations are det]m9$ bas$ on a co/ ( att5dance t may include exp5ses su* z h\s+1 food1 & transportation4 7,n7 ,! mo/ rec5t ,college ,scorec>d in=mation 7or in=mation f a simil> successor website7 t %[s ! m$ian annual e>n+s ( /ud5ts :o receiv$ ,f$]al /ud5t aid & :o are no long] enroll$ at ! in/itution & are work+1 at ! "t t is #aj ye>s aft] ! date ( su* /ud5ts' entry to ! in/itution-- 7i7 = individuals :o 7 enroll$ 9 ! in/itution2 & 7ii7 if available ?r\gh ! ,college ,scorec>d 7or simil> successor website71 = individuals :o 7 enroll$ 9 ! borr[]'s und]graduate or graduate program4 7,o7 ,! p]c5tage ( borr[]s :o att5d$ ! in/itution & h complet$ or are no long] enroll$ t are 9 active repaym5t 7z comp>$ to all borr[]s :o att5d$ ! in/itution & h complet$ or are no long] enroll$74 7,p7 ,= und]graduate borr[]s1 ! completion rate ( ! in/itution1 z available ?r\gh ! ,college ,scorec>d 7or simil> successor website71 = ! mo/ rec5t ye> = :i* data are available4 7,q7 ,a /atem5t t-- 7i7 ! /ati/ics provid$ "u ?is p>agraph are av]ages & m$ian values bas$ on pa/ ye>s2 7ii7 ! borr[]'s repaym5t am\nts1 m$ian e>n+s1 & likelihood ( completion may v>y f su* /ati/ics2 & 7iii7 z appropriate1 p>5t borr[]s %\ld be aw>e t in=mation ab\t ! m$ian e>n+s1 completion rate1 & p]c5tage ( borr[]s 9 active repaym5t is bas$ on data t excludes p>5t borr[]s4 7,r7 ,a /atem5t 9 writ+ & 9 a =m ! borr[] may keep1 ( ! annual p]c5tage rate applicable to ! loan bas$ on a #aj ye> /&>d repaym5t plan1 tak+ into acc\nt-- 7i7 ! am\nt ( ! loan2 7ii7 ! /at$ int]e/ rate ( ! loan2 7iii7 ! /&>d t]m = a loan ( ! same type2 7iv7 any fees or additional co/s associat$ ) ! loan2 & 7v7 any capitalization ( int]e/ on ! loan4 2 & 7#d7 by add+ at ! end ! foll[+3 7#c7 ,in=mation f ! ,dep>tm5t ( ,education ,! ,secret>y %all provide in/itutions ) ! data & /ati/ics necess>y to enable in/itutions to c>ry out ?is subsection4 4 #c4 ,annual requirem5t to manually ent] loan am\nt ,section #dhe ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajib71 z am5d$ by section #b1 is fur!r am5d$ by add+ at ! end ! foll[+3 7n7 ,annual requirem5t ,to manually ent] loan am\nt 7#a7 ,9 g5]al ,9 addition to ! o!r requirem5ts ( ?is section & 9 accordance ) p>agraph 7#b71 ea* eligible in/itution %all ensure t1 = ea* aw>d ye>1 ea* borr[] enroll$ 9 ! in/itution :o receives a ,f$]al ,direct ,loan 7o!r ?an a ,f$]al ,direct ,consolidation ,loan7 & ea* p>5t borr[] :o is borr[+ a ,f$]al ,direct ,,plus ,loan made on behalf ( a /ud5t :o is enroll$ 9 ! in/itution1 = su* ye>1 %all manually ent]1 ei!r 9 writ+ or ?r\gh electronic means1 ! exact doll> am\nt ( ,f$]al ,direct ,loan fund+ t su* borr[] desires to borr[ = su* ye>4 7#b7 ,me?od ,! eligible in/itution %all ensure t ! borr[] c>ries out ! activity describ$ 9 p>agraph 7#a7-- 7,a7 9 ! case ( a /ud5t borr[]1 9 ! c\rse ( ! process us$ by ! in/itution = /ud5ts to accept a /ud5t loan aw>d2 7,b7 prior to ! in/itution c]tify+ a ,f$]al ,direct ,loan 7o!r ?an a ,f$]al ,direct ,consolidation ,loan71 includ+ a ,f$]al ,direct ,,plus ,loan made on behalf ( a /ud5t1 = disbursem5t to a borr[]2 & 7,c7 9 ! case ( a /ud5t borr[]1 aft] ensur+ t ! /ud5t has complet$ all ( ! c\nsel+ requirem5ts "u subsection 7l74 4 #d4 ,"w /udy ,section #dhe ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajib71 z am5d$ by sections #b & #c1 is fur!r am5d$ by add+ at ! end ! foll[+3 7n7 ,"w /udy ,if an in/itution provides a /ud5t or a prospective /ud5t ) a f9ancial aid aw>d notification t includes "w /udy1 ! in/itution %all ensure t ! notification includes an explanation t any "w /udy funds are n directly aw>d$ to ! /ud5t or in/itution1 & su* am\nts mu/ be e>n$ ?r\gh ! /ud5t's completion ( "w ov] "t4 4