WASHINGTON – The U.S. House of Representatives has passed bipartisan legislation, Empowering Students through Enhanced Financial Counseling Act, sponsored by Reps. Brett Guthrie, R-Ky. and Suzanne Bonamici, D-Ore.
The legislation is intended to improve financial aid counseling for students receiving a Pell grant or federal loan.
“Knowledge really is power, especially in how we make practical financial decisions,” said Rep. Virginia Foxx, R-N.C., chairwoman of the Committee on Education and the Workforce. “Student borrowers, and parents if they’re trying to help, should understand and control their financial situation. Their financial situation should not control them.”
Foxx praised Guthrie, chairman of the Higher Education and Workforce Development Subcommittee, as “a champion for common-sense reforms” and commended Bonamici and other Democrats for supporting the effort.
Rep. Bobby Scott, D-Va., ranking member of the Committee on Education and the Workforce, underscored the importance of the legislation.
“The decision to take out student loans can have lifelong consequences for students and their families,” he said. “Yet, student borrowers too often lack the information and guidance they need to understand their options, stay informed on the status of their loans and prepare for the future. We must do more to protect and support students who are willing to take the risk of going into debt for the reward of a good education.”
LaMont Jones can be reached at [email protected]. You can follow him on Twitter @DrLaMontJones.