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Code · BILL · 116th Congress · H.R. 63 (Introduced in House) — To amend the Higher Education Act of 1965 to direct the Secretary of Education to develop a plain language disclosure... · Sec. 2

Sec. 2. Additional disclosures

100 words·~1 min read·/bill/116/hr/63/ih/section-2

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Section 433(a) of the Higher Education Act of 1965 is amended— in paragraph (4), by striking the origination fee and and inserting finance charges, the origination fee, and ; by redesignating paragraphs
(6)through
(19)as paragraphs
(7)through (20), respectively; and by inserting after paragraph (5), the following: the annual percentage rate applicable to the loan, taking into account— the amount of the loan; the stated interest rate of the loan; the standard term for a loan of the same type; any fees or additional costs associated with the loan; and any capitalization of interest on the loan; .
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