Rep. Cathy McMorris Rodgers (WA-05) applauded the passage today of H.R. 4984, the Empowering Students Through Enhanced Financial Counseling Act, which increases awareness for students and families participating in the federal loan program.
"As someone who is still paying off student loans, I know firsthand how important it is to plan ahead and be aware of the financial commitments that are so often associated with higher education. This bipartisan legislation gives Eastern Washington students and parents the tools they need to make informed decisions about their financial commitments -- through interactive counseling sessions and greater loan awareness. Taking on loans is a significant investment -- one that that no student should go into blindly. This bill will change that. By empowering students with access to financial counseling opportunities, we can ensure students succeed."
Through annual counseling, the Empowering Students Through Enhanced Financial Counseling Act requires borrowers to consent every year before receiving federal student loans, providing better awareness for both students and borrowers. Additionally, it informs low-income students about the terms and conditions of the Pell Grant program.