II 115th CONGRESS 1st Session S. 749 IN THE SENATE OF THE UNITED STATES March 28, 2017 Mr. Enzi introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To amend the Higher Education Act of 1965 to require the disclosure of the annual percentage rates applicable to Federal student loans.

1. Short title This Act may be cited as the Transparency in Student Lending Act . 2. 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) Disclosure of APR prior to disbursement In addition to the disclosures required under paragraph (1), each institution and contractor described in such paragraph shall disclose to a borrower before disbursement of a loan made under this part, in writing and in a form the borrower may keep, the annual percentage rate applicable to the loan, taking into account— (A) the amount of the loan; (B) the stated interest rate of the loan; (C) the standard term for a loan of the same type; (D) any fees or additional costs associated with the loan; and (E) any capitalization of interest on the loan. .