To improve student understanding, a bill in the Nebraska legislature would require universities to compile annual reports on student loans and the debt students have accepted.
“The report would include details such as the estimated amount of interest accrued during the duration of the loan as well as the average amount of payments they can expect to make after graduation,” according to The Daily Nebraskan.
Sen. Kate Sulliver (D-Cedar Rapids) introduced the bill.
The bill applies to any school that receives federal loan funding and would be a condensed report of information which students can access, but not in one place. Students don’t necessarily realize what they’re doing when they accept student loans, nor are they aware of their repayment options. The bill isn’t the first to push for greater transparency. The United States Congress has pushed bills about it as far back as 2008, and others failed to become law as recently as 2014.
The bill has garnered support from the University of Nebraska and other college groups in the state. For now, it sits in the general file, waiting on a vote.
