Stefanik (R-NY) - Amendment No. 1 - Provides all students with an explanation of how to seek additional assistance from the financial aid office should they experience a change of financial circumstance. Additionally, the amendment would specify that a borrower receives the loan amount they requested
Murphy, Stephanie (D-FL) - Amendment No. 2 - Requires institutions of higher education, as part of the annual counseling process mandated by the bill, to inform a student borrower that the loan amounts the student uses during an academic term will count towards the student’s aggregate loan amounts, regardless of whether the credits transfer.
O'Halleran (D-AZ) - Amendment No. 3 - Requires counseling to disclose the anticipated monthly payment to borrowers for any income-driven repayment plan for which they are eligible, improving borrowers’ awareness of income-driven repayment plan options
Lewis, Jason (R-MN) - Amendment No. 4 - Clarifies all payment options for Parent PLUS loans and notifies Parent PLUS borrowers that their dependent may qualify for and should consider scholarships, grants, and federal work-study jobs prior to borrowing
Allen (R-GA) - Amendment No. 5 - Provides that nothing prohibits institutions from providing additional financial counseling
Hartzler (R-MO) - Amendment No. 6 - Encourages institutions of higher education to have students attend in-person loan counseling sessions
Jayapal (D-WA) - Amendment No. 7 - Adds requirement that student loan exit counseling includes a warning about illegitimate third-party debt relief companies, which offer services for a fee already provided to borrowers free of charge through loan servicers.
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