Student Loan Counseling Improvement Act
Official: Know Before You Owe Federal Student Loan Act of 2025
This bill improves the counseling process for student loans, ensuring borrowers understand their financial commitments and options. It aims to help students avoid excessive debt and make better choices about their education funding.
1. This bill requires better counseling for students before they take out loans. 2. Students will receive estimates of their monthly payments compared to their expected income. 3. Borrowers will learn about options to reduce their loan amounts and the importance of graduating on time. 4. Students must confirm the exact loan amount they wish to borrow before loans are disbursed. 5. The bill aims to help students make informed decisions about borrowing.
Students planning to take out federal student loans.