US Congress House Bill 2535 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 20-1)
Status: Introduced on July 14 2011 - 25% progression, died in committee
Action: 2011-09-08 - Referred to the Subcommittee on Higher Education and Workforce Training.
Pending: House Subcommittee on Higher Education and Workforce Training Committee
Text: Latest bill text (Introduced) [PDF]

College Literacy in Finance and Economics Act of 2011 or College LIFE Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide student borrowers under the Federal Family Education Loan, Direct Loan, and Perkins Loan programs with financial literacy counseling within 45 days of their first receipt of such a loan and prior to the completion of their studies or when they leave school. Requires student borrowers to receive at least four hours of counseling on each occasion. Makes such counseling requirements inapplicable to borrowers of consolidation loans. Requires financial literacy counseling to include information on student financial aid, banking, budgeting and saving, credit and debt management, credit cards and products, investing, credit scores, housing, taxes, and responsible financial decision making. Directs the Secretary of Education to develop a curriculum that IHEs may use to fulfill this Act's requirements.

College LIFE Act

Rep. Sheila Jackson-Lee [D-TX]	Rep. Robert Andrews [D-NJ]	Rep. Karen Bass [D-CA]	Rep. David Cicilline [D-RI]
Rep. John Conyers [D-MI]	Rep. Luis Gutierrez [D-IL]	Rep. Colleen Hanabusa [D-HI]	Rep. Alcee Hastings [D-FL]
Rep. Brian Higgins [D-NY]	Rep. Ruben Hinojosa [D-TX]	Rep. Eddie Johnson [D-TX]	Rep. Marcy Kaptur [D-OH]
Rep. Dale Kildee [D-MI]	Rep. Carolyn Maloney [D-NY]	Rep. Gregory Meeks [D-NY]	Rep. Michael Michaud [D-ME]
Rep. Mike Quigley [D-IL]	Rep. Charles Rangel [D-NY]	Rep. Albio Sires [D-NJ]	Rep. Paul Tonko [D-NY]
Rep. C.W. Young [R-FL]

Date	Chamber	Action
2011-09-08	House	Referred to the Subcommittee on Higher Education and Workforce Training.
2011-07-14	House	Referred to the House Committee on Education and the Workforce.

SB1260 (Related) 2011-06-23 - Sponsor introductory remarks on measure. (CR S4040)

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/2535/all-info
Text	https://www.congress.gov/112/bills/hr2535/BILLS-112hr2535ih.pdf