United States Congress
Transparency in Student Lending Act
July 11, 2024
Summary
This bill would amend the Higher Education Act to require lenders to disclose the annual percentage rate (APR) to student loan borrowers before disbursement. The APR calculation must account for loan amount, interest rate, term, fees, and interest capitalization.
Source: https://www.congress.gov/bill/118th-congress/s-bill/4686
Common questions
- What does "Transparency in Student Lending Act" cover?
- This bill would amend the Higher Education Act to require lenders to disclose the annual percentage rate (APR) to student loan borrowers before…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on July 11, 2024.