U.S. lawmakers want to make sure families know exactly what they are signing up for when they take on student loans.
The Transparency in Student Lending Actintroduced by Representative John Curtis (R-Utah) and Senator Mike Enzi (R-Wy) would improve the information provided to students and families taking on federal loans to finance higher education.
The bill would require the disclosure of the annual percentage rate (APR) for federal student loans before disbursement. The APR assists borrowers by showing the true cost of a loan, helping students and their families make more informed financial decisions. Photo: KTVX
Tags: student loans
