This bill makes certain federal employees disclose their student loan debt to promote transparency. It helps Congress understand the financial burdens faced by these employees.
Federal Employee Student Debt Transparency Act This bill requires certain executive branch employees to disclose their federal student loan debt in an annual report. The bill's requirement applies to an employee serving in a Senior Executive Service position or a position of a confidential or policy-determining nature (i. e., a Schedule C position). Covered employees must file a report detailing the principal and interest owed on loans under the William D. Ford Federal Direct Loan Program, the Federal Family Education Loan Program, and the Federal Perkins Loan Program. The bill also requires the Office of Government Ethics to submit an annual report to Congress that contains (1) the total amount owed by all covered employees, and (2) the name of any covered employee who failed to report the required information.