PlainBillCongress, translated.Legislation. Context. Public interest.Sponsor introductory remarks on measure. (CR S3596-3597)
Congressional Research Service
Version 00 · Introduced in Senate · Jun 10, 2014
Know Before You Owe Federal Student Loan Act of 2014 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide pre-loan counseling at or prior to the first disbursement of a new loan to a student borrower under the William D. Ford Federal Direct Loan program. (Currently, such counseling is limited to students who are first-time borrowers of such loans.)
Adds to the information to be provided to students as part of such counseling:
an estimate of their projected loan debt-to-income ratio upon graduation and their estimated total student loan debt, calculated for their particular program of study;
Showing the opening paragraphs of the official summary.
a statement that they should borrow the minimum amount necessary to cover expenses;
information about the default risk of having a projected loan debt-to-income ratio greater than 12%;
options for reducing borrowing through scholarships, reduced expenses, work-study, or other work opportunities; and
an explanation of the importance of graduating on time and of how adding an additional year of study impacts total indebtedness.
Requires each IHE, prior to certifying a Federal Direct Loan for disbursement to a student borrower, to ensure that the student manually enters, either in writing or through electronic means, the exact dollar amount of such loan that the student desires to borrow.
People & committees
Sen. Grassley, Chuck [R-IA] · R–IA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Sponsor introductory remarks on measure. (CR S3596-3597)
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.2459 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.2459 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.2459 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.2459 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.