United States 112th Congress Status: Died 1 D cosponsors

HR 2535 — College LIFE Act

Last action — Referred to the Subcommittee on Higher Education and Workforce Training.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

College Literacy in Finance and Economics Act of 2011 or College LIFE Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide student borrowers under the Federal Family Education Loan, Direct Loan, and Perkins Loan programs with financial literacy counseling within 45 days of their first receipt of such a loan and prior to the completion of their studies or when they leave school. Requires student borrowers to receive at least four hours of counseling on each occasion. Makes such counseling requirements inapplicable to borrowers of consolidation loans. Requires financial literacy counseling to include information on student financial aid, banking, budgeting and saving, credit and debt management, credit cards and products, investing, credit scores, housing, taxes, and responsible financial decision making. Directs the Secretary of Education to develop a curriculum that IHEs may use to fulfill this Act's requirements.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 2535 on the official United States source →

Action History

  1. Referred to the Subcommittee on Higher Education and Workforce Training.

  2. Referred to the House Committee on Education and the Workforce.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance education
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Frequently asked questions

What does HR 2535 do?
College Literacy in Finance and Economics Act of 2011 or College LIFE Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide student borrowers under the Federal Family Education Loan, Direct Loan, and Perkins Loan programs with financial literacy counseling within 45 days of their first receipt of such a loan and prior to the completion of their studies or when they leave school. Requires student borrowers to receive at least four hours of counseling on each occasion. Makes such counseling requirements inapplicable to borrowers of consolidation loans. Requires financial literacy counseling to include information on student financial aid, banking, budgeting and saving, credit and debt management, credit cards and products, investing, credit scores, housing, taxes, and responsible financial decision making. Directs the Secretary of Education to develop a curriculum that IHEs may use to fulfill this Act's requirements.
Who sponsors HR 2535?
HR 2535 is sponsored by Sheila Jackson-Lee (D).
What is the current status of HR 2535?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 2535?
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Last checked for changes about 12 hours ago · updated continuously

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