I 
115TH CONGRESS 
1ST SESSION H. R. 3051 
To amend the Higher Education Act of 1965 to require contractors to 
provide certain annual disclosures during a period of loan repayment, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 23, 2017 
Mr. WELCH (for himself and Mr. KATKO) introduced the following bill; which 
was referred to the Committee on Education and the Workforce 
A BILL 
To amend the Higher Education Act of 1965 to require 
contractors to provide certain annual disclosures during 
a period of loan repayment, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Educating Student 
Loan Borrowers Act of 2017’’. 
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SEC. 2. DISCLOSURES REQUIRED DURING LOAN REPAY-
MENT. 
(a) CONTRACTOR REQUIRED DISCLOSURES.—Section 
455(p) of the Higher Education Act of 1965 (20 U.S.C. 
1087e(p)) is amended— 
(1) by striking ‘‘Each institution’’ and inserting 
the following: 
‘‘(1) IN GENERAL.—Each institution’’; and 
(2) by adding at the end the following: 
‘‘(2) ANNUAL REQUIRED DISCLOSURES.— 
‘‘(A) ANNUAL
DISCLOSURE.—In addition 
to the disclosures required under paragraph (1), 
each contractor described in such paragraph 
shall provide the borrower of a loan made under 
this part with a disclosure each year in which 
a payment is due to such contractor on such 
loan that includes— 
‘‘(i) a description of the repayment 
plans available to the borrower, including 
how the borrower should request a change 
in repayment plan; 
‘‘(ii) a description of repayment plans 
available to public service employees; 
‘‘(iii) a general description of the 
terms and conditions under which the bor-
rower may obtain full or partial forgiveness 
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or cancellation of the principal and interest 
of a loan made under this part; 
‘‘(iv) with respect to— 
‘‘(I) a borrower repaying a loan 
under an income contingent repay-
ment plan under subsection (e), a re-
minder to provide the Secretary the 
income information necessary to de-
termine the borrower’s annual repay-
ment obligation under such sub-
section; and 
‘‘(II) a borrower repaying a loan 
under an income-based repayment 
plan under section 493C, a reminder 
to provide the Secretary with the in-
come information necessary to deter-
mine the borrower’s annual repayment 
obligation under such section; and 
‘‘(v) recommendations on where to ob-
tain more detailed information on repay-
ment plans and loan forgiveness, including 
a link to the appropriate page of the De-
partment’s website with respect to such in-
formation. 
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‘‘(B) REQUIREMENTS.—The information 
included in a disclosure required under sub-
paragraph (A) shall— 
‘‘(i) be provided to the borrower of a 
loan made under this part not later than 
March 1 of each year in which a payment 
is due on such loan; 
‘‘(ii) be correctly labeled to indicate 
that such information is available from the 
Department; 
‘‘(iii) not be labeled to indicate that 
such information is created by the con-
tractor; and 
‘‘(iv) to the extent practicable, be dis-
seminated in both physical and electronic 
form to the borrower. 
‘‘(C) CONSUMER TESTED INFORMATION.— 
The Secretary shall ensure that the Department 
information provided to borrowers under sub-
paragraph (A)(iii) is consumer tested and up-
dated periodically.’’. 
(b) DEPARTMENT GUIDANCE.—Not later than 180 
days after the date of the enactment of this Act, the Sec-
retary shall issue guidance with respect to the information 
required to be disclosed under paragraph (2) of section 
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455(p) of the Higher Education Act of 1965 (20 U.S.C. 
1087e(p)), as amended by this section. 
Æ 
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