IIB 
113TH CONGRESS 
2D SESSION 
H. R. 4984 
IN THE SENATE OF THE UNITED STATES 
JULY 28, 2014 
Received; read twice and referred to the Committee on Health, Education, 
Labor, and Pensions 
AN ACT 
To amend the loan counseling requirements under the Higher 
Education Act of 1965, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Empowering Students 
Through Enhanced Financial Counseling Act’’. 
SEC. 2. ANNUAL COUNSELING. 
Section 485(l) of the Higher Education Act of 1965 
(20 U.S.C. 1092(l)) is amended to read as follows: 
‘‘(l) ANNUAL FINANCIAL AID COUNSELING.— 
‘‘(1) ANNUAL DISCLOSURE REQUIRED.— 
‘‘(A) IN GENERAL.—Each eligible institu-
tion shall ensure that each individual who re-
ceives a Federal Pell Grant or a loan made 
under part D (other than a Federal Direct Con-
solidation Loan) receives comprehensive infor-
mation on the terms and conditions of such 
Federal Pell Grant or loan and the responsibil-
ities the individual has with respect to such 
Federal Pell Grant or loan. Such information 
shall be provided, for each award year for which 
the individual receives such Federal Pell Grant 
or loan, in a simple and understandable man-
ner— 
‘‘(i) during a counseling session con-
ducted in person; 
‘‘(ii) online, with the individual ac-
knowledging receipt of the information; or 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(iii) through the use of the online 
counseling tool described in subsection 
(n)(1)(B). 
‘‘(B) USE OF INTERACTIVE PROGRAMS.— 
In the case of institutions not using the online 
counseling 
tool 
described 
in 
subsection 
(n)(1)(B), the Secretary shall require such in-
stitutions to carry out the requirements of sub-
paragraph (A) through the use of interactive 
programs, during an annual counseling session 
that is in-person or online, that test the individ-
ual’s understanding of the terms and conditions 
of the Federal Pell Grant or loan awarded to 
the student, using simple and understandable 
language and clear formatting. 
‘‘(2) ALL INDIVIDUALS.—The information to be 
provided under paragraph (1)(A) to each individual 
receiving counseling under this subsection shall in-
clude the following: 
‘‘(A) An explanation of how the student 
may budget for typical educational expenses 
and a sample budget based on the cost of at-
tendance for the institution. 
‘‘(B) An explanation that an individual has 
a right to annually request a disclosure of infor-
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
mation collected by a consumer reporting agen-
cy pursuant to section 612(a) of the Fair Credit 
Reporting Act (15 U.S.C. 1681j(a)). 
‘‘(C) Based on the most recent data avail-
able from the American Community Survey 
available from the Department of Commerce, 
the estimated average income and percentage of 
employment in the State of domicile of the bor-
rower for persons with— 
‘‘(i) a high school diploma or equiva-
lent; 
‘‘(ii) some post-secondary education 
without completion of a degree or certifi-
cate; and 
‘‘(iii) a bachelor’s degree. 
‘‘(D) An introduction to the financial man-
agement resources provided by the Financial 
Literacy and Education Commission. 
‘‘(3) STUDENTS
RECEIVING
FEDERAL
PELL 
GRANTS.—The information to be provided under 
paragraph (1)(A) to each student receiving a Fed-
eral Pell Grant shall include the following: 
‘‘(A) An explanation of the terms and con-
ditions of the Federal Pell Grant. 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(B) An explanation of approved edu-
cational expenses for which the student may use 
the Federal Pell Grant. 
‘‘(C) An explanation of why the student 
may have to repay the Federal Pell Grant. 
‘‘(D) An explanation of the maximum 
number of semesters or equivalent for which the 
student may be eligible to receive a Federal Pell 
Grant, and a statement of the amount of time 
remaining for which the student may be eligible 
to receive a Federal Pell Grant. 
‘‘(E) An explanation that if the student 
transfers to another institution not all of the 
student’s courses may be acceptable in transfer 
toward meeting specific degree or program re-
quirements at such institution, but the amount 
of time remaining for which a student may be 
eligible to receive a Federal Pell Grant, as pro-
vided under subparagraph (D), will not change. 
‘‘(F) An explanation of how the student 
may seek additional financial assistance from 
the institution’s financial aid office due to a 
change in the student’s financial circumstances, 
and the contact information for such office. 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(4) BORROWERS
RECEIVING
LOANS
MADE 
UNDER
PART
D
(OTHER
THAN
PARENT
PLUS 
LOANS).—The information to be provided under 
paragraph (1)(A) to a borrower of a loan made 
under part D (other than a Federal Direct PLUS 
Loan made on behalf of a dependent student) shall 
include the following: 
‘‘(A) To the extent practicable, the effect 
of accepting the loan to be disbursed on the eli-
gibility of the borrower for other forms of stu-
dent financial assistance. 
‘‘(B) An explanation of the use of the mas-
ter promissory note. 
‘‘(C) An explanation that the borrower is 
not required to accept the full amount of the 
loan offered to the borrower. 
‘‘(D) An explanation that the borrower 
should consider accepting any grant, scholar-
ship, or State or Federal work-study jobs for 
which the borrower is eligible prior to accepting 
Federal student loans. 
‘‘(E) A recommendation to the borrower to 
exhaust the borrower’s Federal student loan op-
tions prior to taking out private loans, an expla-
nation that Federal student loans typically offer 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
better terms and conditions than private loans, 
an explanation of treatment of loans made 
under part D and private education loans in 
bankruptcy, and an explanation that if a bor-
rower decides to take out a private education 
loan— 
‘‘(i) the borrower has the ability to se-
lect a private educational lender of the bor-
rower’s choice; 
‘‘(ii) the proposed private education 
loan may impact the borrower’s potential 
eligibility for other financial assistance, in-
cluding Federal financial assistance under 
this title; and 
‘‘(iii) the borrower has a right— 
‘‘(I) to accept the terms of the 
private education loan within 30 cal-
endar days following the date on 
which the application for such loan is 
approved and the borrower receives 
the required disclosure documents, 
pursuant to section 128(e)(6) of the 
Truth in Lending Act; and 
‘‘(II) to cancel such loan within 3 
business days of the date on which the 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
loan is consummated, pursuant to sec-
tion 128(e)(7) of such Act. 
‘‘(F) An explanation of the approved edu-
cational expenses for which the borrower may 
use a loan made under part D. 
‘‘(G) Information on the annual and aggre-
gate loan limits for Federal Direct Stafford 
Loans and Federal Direct Unsubsidized Staf-
ford Loans. 
‘‘(H) Information on how interest accrues 
and is capitalized during periods when the in-
terest is not paid by either the borrower or the 
Secretary. 
‘‘(I) In the case of a Federal Direct PLUS 
Loan or a Federal Direct Unsubsidized Staf-
ford Loan, the option of the borrower to pay 
the interest while the borrower is in school. 
‘‘(J) The definition of half-time enrollment 
at the institution, during regular terms and 
summer school, if applicable, and the con-
sequences of not maintaining at least half-time 
enrollment. 
‘‘(K) An explanation of the importance of 
contacting the appropriate offices at the institu-
tion of higher education if the borrower with-
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
draws prior to completing the borrower’s pro-
gram of study so that the institution can pro-
vide exit counseling, including information re-
garding the borrower’s repayment options and 
loan consolidation. 
‘‘(L) For a first-time borrower— 
‘‘(i) a statement of the anticipated 
balance on the loan for which the borrower 
is receiving counseling under this sub-
section; 
‘‘(ii) based on such anticipated bal-
ance, the anticipated monthly payment 
amount under, at minimum— 
‘‘(I) the standard repayment 
plan; and 
‘‘(II) an income-based repayment 
plan under section 493C, as deter-
mined using regionally available data 
from the Bureau of Labor Statistics 
of the average starting salary for the 
occupation in which the borrower has 
an interest in or intends to be em-
ployed; and 
‘‘(iii) an estimate of the projected 
monthly payment amount under each re-
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
payment plan described in clause (ii), 
based on the average cumulative indebted-
ness at graduation for borrowers of loans 
made under part D who are in the same 
program of study as the borrower. 
‘‘(M) For a borrower with an outstanding 
balance of principal or interest due on a loan 
made under this title— 
‘‘(i) a current statement of the 
amount of such outstanding balance and 
interest accrued; 
‘‘(ii) based on such outstanding bal-
ance, the anticipated monthly payment 
amount under, at minimum, the standard 
repayment plan and, using regionally avail-
able data from the Bureau of Labor Sta-
tistics of the average starting salary for 
the occupation the borrower intends to be 
employed, an income-based repayment plan 
under section 493C; and 
‘‘(iii) an estimate of the projected 
monthly payment amount under each re-
payment plan described in clause (ii), 
based on— 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(I) the outstanding balance de-
scribed in clause (i); 
‘‘(II) the anticipated outstanding 
balance on the loan for which the stu-
dent is receiving counseling under this 
subsection; and 
‘‘(III) a projection for any other 
loans made under part D that the 
borrower is reasonably expected to ac-
cept during the borrower’s program of 
study based on at least the expected 
increase in the cost of attendance of 
such program. 
‘‘(N) The obligation of the borrower to 
repay the full amount of the loan, regardless of 
whether the borrower completes or does not 
complete the program in which the borrower is 
enrolled within the regular time for program 
completion. 
‘‘(O) The likely consequences of default on 
the loan, including adverse credit reports, delin-
quent debt collection procedures under Federal 
law, and litigation, and a notice of the institu-
tion’s most recent cohort default rate (defined 
in section 435(m)), an explanation of the cohort 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00011
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
default rate, the most recent national average 
cohort default rate, and the most recent na-
tional average cohort default rate for the cat-
egory 
of 
institution 
described 
in 
section 
435(m)(4) to which the institution belongs. 
‘‘(P) Information on the National Student 
Loan Data System and how the borrower can 
access the borrower’s records. 
‘‘(Q) The contact information for the insti-
tution’s financial aid office or other appropriate 
office at the institution the borrower may con-
tact if the borrower has any questions about the 
borrower’s rights and responsibilities or the 
terms and conditions of the loan. 
‘‘(5) BORROWERS
RECEIVING
PARENT
PLUS 
LOANS FOR DEPENDENT STUDENTS.—The informa-
tion to be provided under paragraph (1)(A) to a bor-
rower of a Federal Direct PLUS Loan made on be-
half of a dependent student shall include the fol-
lowing: 
‘‘(A) The information described in sub-
paragraphs (A) through (C) and (N) through 
(Q) of paragraph (4). 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00012
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(B) The option of the borrower to pay the 
interest on the loan while the loan is in 
deferment. 
‘‘(C) For a first-time borrower of such 
loan— 
‘‘(i) a statement of the anticipated 
balance on the loan for which the borrower 
is receiving counseling under this sub-
section; 
‘‘(ii) based on such anticipated bal-
ance, the anticipated monthly payment 
amount under the standard repayment 
plan; and 
‘‘(iii) an estimate of the projected 
monthly payment amount under the stand-
ard repayment plan, based on the average 
cumulative indebtedness of other borrowers 
of Federal Direct PLUS Loans made on 
behalf of dependent students who are in 
the same program of study as the student 
on whose behalf the borrower borrowed the 
loan. 
‘‘(D) For a borrower with an outstanding 
balance of principal or interest due on such 
loan— 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00013
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(E) Debt management strategies that are 
designed to facilitate the repayment of such in-
debtedness. 
‘‘(F) An explanation that the borrower has 
the options to prepay each loan, pay each loan 
on a shorter schedule, and change repayment 
plans. 
‘‘(G) For each Federal Direct PLUS Loan 
made on behalf of a dependent student for 
which the borrower is receiving counseling 
under this subsection, the contact information 
for the loan servicer of the loan and a link to 
such servicer’s Website. 
‘‘(6) ANNUAL
LOAN
ACCEPTANCE.—Prior to 
making the first disbursement of a loan made under 
part D (other than a Federal Direct Consolidation 
Loan) to a borrower for an award year, an eligible 
institution, shall, as part of carrying out the coun-
seling requirements of this subsection for the loan, 
ensure that after receiving the applicable counseling 
under paragraphs (2), (4), and (5) for the loan the 
borrower accepts the loan for such award year by— 
‘‘(A) signing the master promissory note 
for the loan; 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00015
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(B) signing and returning to the institu-
tion a separate written statement that affirma-
tively states that the borrower accepts the loan; 
or 
‘‘(C) electronically signing an electronic 
version of the statement described in subpara-
graph (B).’’. 
SEC. 3. EXIT COUNSELING. 
Section 485(b) of the Higher Education Act of 1965 
(20 U.S.C. 1092(b)) is amended— 
(1) in paragraph (1)(A)— 
(A) in the matter preceding clause (i), by 
striking ‘‘through financial aid offices or other-
wise’’ and inserting ‘‘through the use of an 
interactive program, during an exit counseling 
session that is in-person or online, or through 
the use of the online counseling tool described 
in subsection (n)(1)(A)’’; 
(B) by redesignating clauses (i) through 
(ix) as clauses (iv) through (xii), respectively; 
(C) by inserting before clause (iv), as so 
redesignated, the following: 
‘‘(i) a summary of the outstanding balance of 
principal and interest due on the loans made to the 
borrower under part B, D, or E; 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00016
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
‘‘(ii) an explanation of the grace period pre-
ceding repayment and the expected date that the 
borrower will enter repayment; 
‘‘(iii) an explanation that the borrower has the 
option to pay any interest that has accrued while the 
borrower was in school or that may accrue during 
the grace period preceding repayment or during an 
authorized period of deferment or forbearance, prior 
to the capitalization of the interest;’’; 
(D) in clause (iv), as so redesignated— 
(i) by striking ‘‘sample information 
showing the average’’ and inserting ‘‘infor-
mation, based on the borrower’s out-
standing balance described in clause (i), 
showing the borrower’s’’; and 
(ii) by striking ‘‘of each plan’’ and in-
serting ‘‘of at least the standard repay-
ment plan and the income-based repay-
ment plan under section 493C’’; 
(E) in clause (ix), as so redesignated— 
(i) by inserting ‘‘decreased credit 
score,’’ after ‘‘credit reports,’’; and 
(ii) by inserting ‘‘reduced ability to 
rent or purchase a home or car, potential 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00017
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
difficulty in securing employment,’’ after 
‘‘Federal law,’’; 
(F) in clause (x), as so redesignated, by 
striking ‘‘consolidation loan under section 428C 
or a’’; 
(G) in clauses (xi) and (xii), as so redesig-
nated, by striking ‘‘and’’ at the end; and 
(H) by adding at the end the following: 
‘‘(xiii) for each of the borrower’s loans made 
under part B, D, or E for which the borrower is re-
ceiving counseling under this subsection, the contact 
information for the loan servicer of the loan and a 
link to such servicer’s Website; and 
‘‘(xiv) an explanation that an individual has a 
right to annually request a disclosure of information 
collected by a consumer reporting agency pursuant 
to section 612(a) of the Fair Credit Reporting Act 
(15 U.S.C. 1681j(a)).’’; 
(2) in paragraph (1)(B)— 
(A) by inserting ‘‘online or’’ before ‘‘in 
writing’’; and 
(B) by adding before the period at the end 
the following: ‘‘, except that in the case of an 
institution using the online counseling tool de-
scribed in subsection (n)(1)(A), the Secretary 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00018
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
shall attempt to provide such information to the 
student in the manner described in subsection 
(n)(3)(C)’’; and 
(3) in paragraph (2)(C), by inserting ‘‘, such as 
the online counseling tool described in subsection 
(n)(1)(A),’’ after ‘‘electronic means’’. 
SEC. 4. ONLINE COUNSELING TOOLS. 
Section 485 of the Higher Education Act of 1965 (20 
U.S.C. 1092) is further amended by adding at the end 
the following: 
‘‘(n) ONLINE COUNSELING TOOLS.— 
‘‘(1) IN GENERAL.—Beginning not later than 1 
year after the date of enactment of the Empowering 
Students Through Enhanced Financial Counseling 
Act, the Secretary shall maintain— 
‘‘(A) an online counseling tool that pro-
vides the exit counseling required under sub-
section (b) and meets the applicable require-
ments of this subsection; and 
‘‘(B) an online counseling tool that pro-
vides the annual counseling required under sub-
section (l) and meets the applicable require-
ments of this subsection. 
‘‘(2) REQUIREMENTS OF TOOLS.—In maintain-
ing the online counseling tools described in para-
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00019
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
graph (1), the Secretary shall ensure that each such 
tool is— 
‘‘(A) consumer tested, in consultation with 
other relevant Federal agencies, to ensure that 
the tool is effective in helping individuals under-
stand their rights and obligations with respect 
to borrowing a loan made under part D or re-
ceiving a Federal Pell Grant; 
‘‘(B) understandable to students receiving 
Federal Pell Grants and borrowers of loans 
made under part D; and 
‘‘(C) freely available to all eligible institu-
tions. 
‘‘(3) RECORD OF COUNSELING COMPLETION.— 
The Secretary shall— 
‘‘(A) use each online counseling tool de-
scribed in paragraph (1) to keep a record of 
which individuals have received counseling using 
the tool, and notify the applicable institutions 
of the individual’s completion of such coun-
seling; 
‘‘(B) in the case of a borrower who re-
ceives annual counseling for a loan made under 
part D using the tool described in paragraph 
(1)(B), notify the borrower by when the bor-
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00020
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
rower should accept, in a manner described in 
section 485(l)(6), the loan for which the bor-
rower has received such counseling; and 
‘‘(C) in the case of a borrower described in 
subsection (b)(1)(B) at an institution that uses 
the online counseling tool described in para-
graph (1)(A) of this subsection, the Secretary 
shall attempt to provide the information de-
scribed in subsection (b)(1)(A) to the borrower 
through such tool.’’. 
SEC. 5. LONGITUDINAL STUDY ON THE EFFECTIVENESS OF 
STUDENT LOAN COUNSELING. 
(a) IN GENERAL.—Not later than 1 year after the 
date of enactment of this Act, the Secretary of Education, 
acting through the Director of the Institute of Education 
Sciences, shall begin conducting a rigorous, longitudinal 
study of the impact and effectiveness of the student loan 
counseling— 
(1) provided under subsections (b), (l), and (n) 
of section 485 of the Higher Education Act of 1965 
(20 U.S.C. 1092), as amended by this Act; and 
(2) provided through such other means as the 
Secretary of Education may determine. 
(b) CONTENTS.— 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00021
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
(1) BORROWER
INFORMATION.—The longitu-
dinal study carried out under subsection (a) shall in-
clude borrower information, in the aggregate and 
disaggregated by race, ethnicity, gender, income, and 
status as an individual with a disability, on— 
(A) student persistence; 
(B) degree attainment; 
(C) program completion; 
(D) successful entry into student loan re-
payment; 
(E) cumulative borrowing levels; and 
(F) such other factors as the Secretary of 
Education may determine. 
(2) EXCEPTION.—The disaggregation under 
paragraph (1) shall not be required in a case in 
which the number of borrowers in a category is in-
sufficient to yield statistically reliable information or 
the results would reveal personally identifiable infor-
mation about an individual borrower. 
(c) INTERIM REPORTS.—Not later than 18 months 
after the commencement of the study under subsection 
(a), and annually thereafter, the Secretary of Education 
shall evaluate the progress of the study and report any 
short-term findings to the appropriate committees of Con-
gress. 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00022
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS
HR 4984 RFS 
SEC. 6. AVAILABILITY OF FUNDS. 
(a) USE OF EXISTING FUNDS.—Of the amount au-
thorized to be appropriated for maintaining the Depart-
ment of Education’s Financial Awareness Counseling 
Tool, $2,000,000 shall be available to carry out this Act 
and the amendments made by this Act. 
(b) NO
ADDITIONAL
FUNDS
AUTHORIZED.—No 
funds are authorized to be appropriated by this Act to 
carry out this Act or the amendments made by this Act. 
Passed the House of Representatives July 24, 2014. 
Attest: 
KAREN L. HAAS, 
Clerk. 
VerDate Mar 15 2010 
00:14 Jul 29, 2014
Jkt 039200
PO 00000
Frm 00023
Fmt 6652
Sfmt 6201
E:\BILLS\H4984.RFS
H4984
jbell on DSK4SPTVN1PROD with BILLS