I 

116TH CONGRESS 

1ST SESSION H. R. 3095 

To amend the Higher Education Act of 1965 to direct the Secretary of 

Education to provide each borrower with an individualized repayment guide. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 4, 2019 

Mr. SWALWELL of California (for himself, Mr. MOULTON, Mrs. NAPOLITANO, 

Ms. NORTON, Mr. BRENDAN F. BOYLE of Pennsylvania, and Mr. KILMER) introduced the following bill; which was referred to the Committee 

on Education and Labor 

A BILL 

To amend the Higher Education Act of 1965 to direct the 

Secretary of Education to provide each borrower with 

an individualized repayment guide. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Know Your Repayment 

5 Options Act’’. 

6 SEC. 2. INDIVIDUALIZED REPAYMENT PLAN GUIDE. 

7 (a) EXIT COUNSELING.—Section 485(b)(1)(A)(i) of 

8 the Higher Education Act of 1965 (20 U.S.C. 

9 1092(b)(1)(A)(i)) is amended by inserting, ‘‘or, if availVerDate Sep 11 2014 01:58 Jun 12, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H3095.IH H3095

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1 able, the information described in subsection (n)(1),’’ after 

2 ‘‘monthly payments,’’. 

3 (b) INDIVIDUALIZED REPAYMENT PLAN GUIDE.— 

4 Section 485 of the Higher Education Act of 1965 (20 

5 U.S.C. 1092) is amended by adding at the end the fol6 lowing: 

7 ‘‘(n) INDIVIDUALIZED REPAYMENT PLAN GUIDE.— 

8 Beginning 1 year after a borrower receives exit counseling 

9 under subsection (b), and annually thereafter until the 

10 borrower has repaid each loan of the borrower that is 

11 made, insured, or guaranteed under part B (other than 

12 loans made pursuant to section 428C or loans under sec13 tion 428B made on behalf of a student) or made under 

14 part D (other than Federal Direct Consolidation Loans 

15 or Federal Direct PLUS Loans made on behalf of a stu16 dent), the Secretary shall— 

17 ‘‘(1) provide the borrower (based on the bor18 rower’s annual income and the outstanding balance 

19 of principal and interest due on all such loans), for 

20 each repayment plan available for such loans— 

21 ‘‘(A) the average anticipated monthly pay22 ment amount; 

23 ‘‘(B) the yearly payment amount; 

24 ‘‘(C) the lifetime payment amount; 


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1 ‘‘(D) the number of months remaining to 

2 pay off the loans; 

3 ‘‘(E) the amount of the loans that have 

4 been forgiven; 

5 ‘‘(F) a link to the place on the Web site 

6 of the Department that allows borrowers to 

7 change repayment plans or provides information 

8 about changing such plans; and 

9 ‘‘(G) any other information the Secretary 

10 determines may be helpful to the borrower in 

11 determining which repayment payment plan the 

12 borrower should choose; 

13 ‘‘(2) establish procedures for annual verification 

14 of the borrower’s annual income and the outstanding 

15 balance of principal and interest due on all such 

16 loans, and such other procedures as are necessary to 

17 effectively provide the information under paragraph 

18 (1), including procedures that allow the borrower to 

19 consent to the sharing of such data between the In20 ternal Revenue Service and the Department for the 

21 entire period the borrower is provided the informa22 tion under paragraph (1), in a manner that is as 

23 least burdensome as practical to the borrower; and 


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1 ‘‘(3) enable the borrower, at any time, to opt 

2 out of being provided the information under para3 graph (1) on an annual basis.’’. 

Æ 


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