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CT SB00570
Bill
Status
1/23/2017
Primary Sponsor
Higher Education and Employment Advancement Committee
Click for details
AI Summary
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Office of Higher Education shall develop a student loan repayment calculator available as a mobile application, effective January 1, 2018
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Calculator allows users to input federal student loan information and receive estimates for cumulative principal balance, interest rates, cumulative interest due, monthly payments, and final payment dates
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Calculator shall provide information based on either a ten-year or fifteen-year repayment schedule
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Each institution of higher education must annually provide students with instruction on how to access and use the student loan repayment calculator
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Purpose is to keep students informed of their student loan debt and available repayment options
Legislative Description
An Act Concerning Loan Information Provided To Students By Institutions Of Higher Education.
Last Action
Referred to Joint Committee on Higher Education and Employment Advancement
3/14/2017