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FL S0396
Bill
AI Summary
- Creates Section 1009.45, Florida Statutes, requiring postsecondary institutions that disburse state financial aid to annually provide students receiving federal student loans with up-to-date loan information in print or electronic format
- Institutions must provide estimates of each student's total borrowed amount, total potential repayment amount including principal and interest, and monthly repayment amounts
- Institutions must also inform students of the percentage of their federal borrowing limit they have reached at the time the information is provided
- Shields postsecondary institutions from any liability for providing the required student loan information
- Takes effect July 1, 2017, beginning with the 2017-2018 academic year
Legislative Description
Student Loan Debt
Last Action
Chapter No. 2017-92
6/15/2017
Committee Referrals
Rules2/24/2017
Education2/1/2017
Full Bill Text
No bill text available