{"database": "press", "table": "releases", "rows": [["https://www.heller.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=F03F56FB-70BF-43CB-BA19-117D52AFD5E5", "Heller, Warner, Kaine, Gardner Introduce Bill to Empower Student Borrowers", "2016-06-29", "2016", "2016-06", "Republican", "House", "NV", "Dean Heller", "H001041", "www.heller.senate.gov", null, null, "legacy", "(Washington, DC) \u2013 Today, U.S. Senators Dean Heller (R-NV), Mark R. Warner (D-VA), Tim Kaine (D-VA) and Cory Gardner (R-CO) introduced bipartisan legislation to help students make smart decisions in the financing of their higher education. The Empowering Students Through Enhanced Financial Counseling Act promotes financial literacy by providing students who are recipients of federal financial aid with comprehensive counseling services. Nationwide, Americans owe more than $1.3 trillion in student loan debt, outstripping credit cards and auto loans as the country\u2019s leading source of non-housing debt. A companion bill has been introduced in the House of Representatives and carries strong bipartisan support.\r\n\u201cRecently, student loan debt rose to a record high of $1.35 trillion nationwide. Now more than ever, it is critical to ensure that students are making smart decisions about financing their higher education. Navigating the student loan process can be complicated and confusing, and students deserve to have the tools they need to manage their loans in a responsible way.\u00a0I am proud to introduce this legislation alongside Senator Warner to provide students with essential information to make well-informed, sound financial decisions for their college education and future,\u201d said Sen. Heller.\r\n\u201cIn January, Senator Kaine and I met with student leaders from 20 colleges and universities across Virginia, who shared the challenges they have faced paying for college and the negative effects of crippling student loan debt. \u00a0Several of the students had powerful personal stories about their struggles to find the money for college, and how they wished they had had better information about their options when they were taking out tens of thousands of dollars in loans to finance their education,\u201d said Sen. Warner. \u201cAnd these kinds of stories are common across the Commonwealth. Today, a college student in Virginia can expect to graduate with more than $26,000 in debt. As the first person in my family to graduate from college, I know that if I had graduated with that level of debt, I would not have had opportunities to try \u2013 and to fail \u2013 with several of my early business ventures. By neglecting to give students meaningful financial counseling when they take out loans to pay for college, we\u2019re limiting their options and stifling our country\u2019s economic future. I\u2019m proud to be leading this bipartisan effort in the Senate to empower students with the information they need to make informed decisions about their futures.\u201d \u00a0\r\n\u201cCollege affordability is an issue our country is grappling with at the national level, state level and especially at the family level,\u201d Sen. Kaine said. \u201cThis bill will help families make smart decisions when they take out loans by providing comprehensive financial guidance. We need to implement these strategies for students in high school so they are well-informed early, can afford to get a higher education and have a successful start to their career without being weighed down by student loan debt.\u201d\r\n\u201cStudent debt continues to negatively impact Coloradans and Americans across the country, and that\u2019s why it\u2019s important that students receiving federal financial aid have access to resources, including financial counseling, that will better inform their financial decisions prior to undertaking massive student loan debt,\u201d said Sen. Gardner. \u201cA high quality education provides students with the tools they need to succeed, and financial literacy is an essential component to achieving that success. I look forward to working with my colleagues on both sides of the aisle to advance this bipartisan proposal that provides institutions of higher education with the resources they need to expand educational opportunities.\u201d\r\nBackground: \r\nA survey of current students and recent graduates with a high level of student loan debt found that more than 40 percent could not recall having received financial counseling, even though counseling is already required before students can receive their first federal loan. Further, no counseling is provided to students who receive only a Pell Grant or to parents who take out federal loans to help pay for their children\u2019s education. As a result, many students graduate unable to manage the loans they used to finance their education, leading to significant hardship for borrowers and greater risk for taxpayers.\r\nTo help students make smart decisions about financing their higher education, the Empowering Students Through Enhanced Financial Counseling Act promotes financial literacy through enhanced counseling for all recipients of federal financial aid. Specifically, the bill:\r\n \r\nEnsures borrowers, both students and parents, who participate in the federal loan program receive interactive counseling each year that reflects their individual borrowing situation.\r\nDirects the Secretary of Education to maintain and disseminate a consumer-tested, online counseling tool that institutions can use to provide annual loan counseling, exit counseling, and annual Pell Grant counseling.\r\nProvides awareness about the financial obligations students and parents are accumulating by requiring borrowers to consent each year before receiving federal student loans.\r\nInforms low-income students about the terms and conditions of the Pell Grant program through annual counseling that will be provided to all grant recipients.\r\n \r\nA copy of the legislative text is available here. A one-page summary and answers to frequently asked questions are available here.\r\n###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.heller.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=F03F56FB-70BF-43CB-BA19-117D52AFD5E5"], "units": {}, "query_ms": 4.280777182430029, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}