1. Short title This Act may be cited as the Letter of Estimated Annual Debt for Students Act of 2017 or the LEADS Act of 2017 . 2. Annual estimate of student loan borrowing costs Section 485 of the Higher Education Act of 1965 ( 20 U.S.C. 1092 ) is amended by adding at the end the following: (n) Annual estimate of student loan borrowing costs (1) In general Beginning on July 1, 2019, each eligible institution shall provide a cost estimate described in paragraph (2) to each enrolled student who receives an education loan to attend the institution, not later than 30 days before the first day of each academic year beginning after the academic year for which the student first received such a loan to attend such institution. (2) Contents of estimate The estimate under paragraph (1) shall contain the following information: (A) Cumulative balances and monthly payments A notice to the student of— (i) the cumulative balance of education loans owed by the student as of the date of the notice; and (ii) projected monthly payment amounts based on the cumulative balances described in clause (i), assuming a standard repayment schedule. (B) Interest rates The interest rate of each education loan, except that interest rates for a private education loan may be based on average private education loan interest rates if the institution cannot reasonably determine the actual interest rate of such loan. (C) Disclaimer A clear and conspicuous notice stating that any information provided under paragraph (1) is an estimate, accurate to the best of the institution’s knowledge, and that an interest rate provided under subparagraph (B)— (i) in the case of a loan described in paragraph (6)(A)(i), is the applicable rate of interest of such loan; (ii) in the case of a private education loan, may be based on average private education loan interest rates