US Congress Senate Bill 1260 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on June 22 2011 - 25% progression, died in chamber
Action: 2011-06-23 - Sponsor introductory remarks on measure. (CR S4040)
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 the Financial Education Core Competencies as determined by the Financial Literacy and Education Commission. Directs the Secretary of Education to develop a curriculum that IHEs may use to fulfill this Act's requirements.

College LIFE Act

Sen. Daniel Akaka [D-HI]

Date	Chamber	Action
2011-06-23	Senate	Sponsor introductory remarks on measure. (CR S4040)
2011-06-22	Senate	Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S4032-4033)

HB2535 (Related) 2011-09-08 - Referred to the Subcommittee on Higher Education and Workforce Training.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/1260/all-info
Text	https://www.congress.gov/112/bills/s1260/BILLS-112s1260is.pdf