Federal Employee Student Debt Transparency Act

Bill: 118-s-1295
Sponsor: full_name: Sen. Budd, Ted [R-NC]
Introduced: 2023-04-26
Policy area: Government Operations and Politics
Subjects: Congressional oversight

Government employee pay, benefits, personnel management

Government information and archives

Government lending and loan guarantees

Higher education

Student aid and college costs
Latest action: action_date: 2023-04-26
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Summaries:
action_date: 2023-04-26
action_desc: Introduced in Senate
text: <p><strong>Federal Employee Student Debt Transparency Act</strong></p><p>This bill requires certain executive branch employees to disclose their federal student loan debt in an annual report.</p><p>The bill's requirement applies to an employee serving in a&nbsp;Senior Executive Service position or a position of a confidential or policy-determining nature (i.e., a Schedule C position). Covered employees must file a report detailing the principal and interest owed on loans under the William D. Ford Federal Direct Loan Program, the Federal Family Education Loan Program, and the Federal Perkins Loan Program.&nbsp;</p><p>The bill also requires the Office of Government Ethics to submit an annual report to Congress that contains (1) the total amount owed by all covered employees, and (2) the name of any covered employee who failed to report the required information.&nbsp;</p><p>&nbsp;</p><!--tinycomments|2.1|data:application/json;base64,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-->

tv_txt: II 118th CONGRESS 1st Session S. 1295 IN THE SENATE OF THE UNITED STATES April 26, 2023 Mr. Budd (for himself, Mr. Marshall , and Mr. Braun ) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To amend chapter 131 of title 5, United States Code, to require Senior Executive Service and schedule C employees to disclose Federal student loan debt, and for other purposes.

1. Short title This Act may be cited as the Federal Employee Student Debt Transparency Act . 2. Disclosure of Federal student loan debt by SES and schedule C employees Section 13104 of title 5, United States Code, is amended by adding at the end the following: (j) Disclosure of Federal student loan debt by SES and schedule C employees (1) Definition In this subsection, the term covered employee means an employee of the executive branch who occupies— (A) a Senior Executive Service position (as defined in section 3132(a)); or (B) a position of a confidential or policy-determining nature under schedule C of subpart C of part 213 of title 5, Code of Federal Regulations, or any successor regulation. (2) Reports by covered employees Not later than 60 days after the date of enactment of the Federal Employee Student Debt Transparency Act, and not later than February 28 of each year thereafter, each covered employee shall file a report containing a full and complete statement of the outstanding balance of principal and interest owed by the covered employee on— (A) each loan made under part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq. ); and (B) any loan made, insured, or guaranteed under part B or E of such title ( 20 U.S.C. 1071 et seq. , 1087aa et seq.). (3) New covered employees Not later than 60 days after the date on which an individual assumes the position of a covered employee, the individual shall file a report containing the information required under paragraph (2). (4) Reports to Congress Not later than May 1 of each year, the Director of the Office of Government Ethics shall transmit to Congress a report containing— (A) the total amount owed by all covered employees as reported pursuant to paragraphs (2) and (3); and (B) the name of any covered employee who failed to file or report any information required to be reported pursuant to paragraph (2) or (3). .