Bonamici, Guthrie Reintroduce Empowering Students through Enhanced Financial Counseling Act
WASHINGTON, D.C. – Congresswoman Suzanne Bonamici (OR-01) and Congressman Brett Guthrie (KY-02), both members of the House Committee on Education and Labor, today reintroduced the Empowering Students through Enhanced Financial Counseling Act.
The Empowering Students through Enhanced Financial Counseling Act would improve the timing, frequency, and content of the financial counseling students are required to receive when they take out federal student loans.
“Students pursue higher education to work toward a brighter future, but too often the burden of student loan debt holds them back from reaching their full potential,” said Congresswoman Bonamici. “The complex terms in student loan agreements and grants often make it difficult for students to fully understand their options and make the best financial choices. I’m proud to continue my partnership with Congressman Guthrie to reintroduce the Empowering Students through Enhanced Financial Counseling Act, which will help students make more informed decisions about their education and finances.”
“High school seniors across the country are currently deciding where to go to school next year. The Empowering Students through Enhanced Financial Counseling Act will help these students better understand their financial obligations,” said Congressman Guthrie. “I’ve heard from too many people who thought their federal student loans were grants, or that they didn’t realize how much interest would accrue on their loans. This bill will make sure that students are receiving financial counseling before they sign on the dotted line for a student loan, and then every year they’re in school. I was proud to reintroduce this bipartisan legislation with Congresswoman Bonamici.”