Student Loan Debt

Floor Speech

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Mr. CURTIS. Mr. Speaker, I am pleased to introduce the Transparency in Student Lending Act.

College education can be a life-changing investment, but it can come at a tremendous cost. Right now, 44 million Americans collectively hold $1.5 trillion in student loan debt. The Federal Government lends 90 percent of these dollars. However, unlike other lenders, the Federal Government does not provide students with complete information about the total cost of their loan, leaving borrowers unaware of hidden costs and fees until they enter the repayment phase. I have introduced this bill to require complete information be provided to students before they take out a loan.

Mr. Speaker, I represent the youngest congressional district in the United States, and many of my constituents are struggling with student debt. With this legislation, we can help young people make fully informed financial decisions for their families and their futures.

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