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Beginning July 1, 2019, institutions must deliver a written cost estimate at least 30 days before each academic year, including cumulative balances, projected monthly payments under a standard repayment schedule, applicable interest rates or specified averaging rules, and a prominent disclaimer that the information is an estimate. The bill also sets formats and liability limits, and requires the Secretary of Education to provide templates, technical assistance, approvals, projection formulas, and secure encryption options.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/forms/","Forms",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/hr-1429-letter-of-estimated-annual-debt-for-students-act-of-2017-leads-act/279433/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/hr-1429-letter-of-estimated-annual-debt-for-students-act-of-2017-leads-act/279433.png","ImageObject",442,249,{"name":42,"@type":43},"Blitz","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-24","2026-09-16",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",6,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What is the purpose of H.R. 1429?","Question",{"text":63,"@type":64},"It amends the Higher Education Act of 1965 to require institutions to provide students with annual estimates of education loan borrowing costs.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"When must institutions start providing the annual loan cost estimates?",{"text":68,"@type":64},"Beginning July 1, 2019, each eligible institution must provide the estimate not later than 30 days before the first day of each academic year after the student first received the loan.",{"name":70,"@type":61,"acceptedAnswer":71},"What information must be included in the student’s annual estimate?",{"text":72,"@type":64},"The estimate must include cumulative loan balances and projected monthly payment amounts based on a standard repayment schedule, applicable interest rates (with limited rules for private loans), and a clear conspicuous disclaimer that the information is an estimate.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},279433,1791434703,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,104,109,113,118,123],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":100,"doc_module":22,"doc_module_name":25,"category_name":101,"show_sort_weight":102,"slug":103},15,"Posters",60,"posters",{"id":105,"doc_module":22,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},16,"Social Media",50,"social-media",{"id":110,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":111,"slug":112},17,40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":115,"show_sort_weight":116,"slug":117},18,"Letters",30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":125,"show_sort_weight":4,"slug":126},158,"General","general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":110,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":136,"language":137,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":12,"update_tm":141,"read_time":30},24464137899374,"https://us-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2","I  \n115TH CONGR1ST SESSIOENSS H. R. 1429  \nTo amend the Higher Education Act of 1965 to require institutions of higher education to provide students with annual estimates of student loan borrowing costs.  \nIN THE HOUSE OF REPRESENTATIVES  \nMARCH 8, 2017  \nMr. MESSER (for himself, Ms. STEFANIK, Mr. CARSON of Indiana, Mrs. BROOKS of Indiana, Mr. BUCSHON, Mr. ROKITA, and Ms. MCSALLY) introduced the following bill; which was referred to the Committee on Education and the Workforce  \nA BILL  \nTo amend the Higher Education Act of 1965 to require institutions of higher education to provide students with annual estimates of student loan borrowing costs.  \n1 Be it enacted by the Senate and House of Representa- 2 tives of the United States of America in Congress assembled, 3 SECTION 1. SHORT TITLE.  \n4 This Act may be cited as the ‘‘Letter of Estimated 5 Annual Debt for Students Act of 2017’’ or the ‘‘LEADS 6 Act of 2017’’.  \n2  \n1 SEC. 2. ANNUAL ESTIMATE OF STUDENT LOAN BORROWING  \n2 COSTS.  \n3 Section 485 of the Higher Education Act of 1965 (20 4 U. S.C. 1092) is amended by adding at the end the fol- 5 lowing:  \n6 ‘‘(n) ANNUAL ESTIMATE OF STUDENT LOAN BOR- 7 ROWING COSTS.—  \n8 ‘‘(1) IN GENERAL.—Beginning on July 1, 2019, 9 each eligible institution shall provide a cost estimate  \n10 described in paragraph (2) to each enrolled student 11 who receives an education loan to attend the institu- 12 tion, not later than 30 days before the first day of 13 each academic year beginning after the academic 14 year for which the student first received such a loan 15 to attend such institution.  \n16 ‘‘(2) CONTENTS OF ESTIMATE.—The estimate  \n17 under paragraph (1) shall contain the following in- 18 formation:  \n19 ‘‘(A) CUMULATIVE BALANCES AND MONTH- 20 LY PAYMENTS.—A notice to the student of—  \n21 ‘‘(i) the cumulative balance of edu- 22 cation loans owed by the student as of the  \n23 date of the notice; and  \n24 ‘‘(ii) projected monthly payment  \n25 amounts based on the cumulative balances  \n3  \n1 described in clause (i), assuming a stand- 2 ard repayment schedule.  \n3 ‘‘(B) INTEREST RATES.—The interest rate  \n4 of each education loan, except that interest  \n5 rates for a private education loan may be based  \n6 on average private education loan interest rates  \n7 if the institution cannot reasonably determine  \n8 the actual interest rate of such loan.  \n9 ‘‘(C) DISCLAIMER.—A clear and con- 10 spicuous notice stating that any information  \n11 provided under paragraph (1) is an estimate, 12 accurate to the best of the institution’s knowl- 13 edge, and that an interest rate provided under  \n14 subparagraph (B)—  \n15 ‘‘(i) in the case of a loan described in  \n16 paragraph (6)(A)(i), is the applicable rate  \n17 of interest of such loan;  \n18 ‘‘(ii) in the case of a private education  \n19 loan, may be based on average private edu- 20 cation loan interest rates; and  \n21 ‘‘(iii) does not include private edu- 22 cation loans of which the institution is not  \n23 aware.  \n24 ‘‘(3) FORM OF ESTIMATE.—The estimate under  \n25 paragraph (1) shall be—  \n4  \n1 ‘‘(A) provided to the student in hard copy  \n2 format on the letterhead of the institution, by  \n3 electronic mail or by another method the Sec- 4 retary may prescribe; and  \n5 ‘‘(B) delivered to the student separately  \n6 from any other disclosures required under this  \n7 Act.  \n8 ‘‘(4) LIMITATION OF LIABILITY.—An institution  \n9 that provides the estimate under paragraph (1) in  \n10 good faith shall not be liable to any person for inac- 11 curacies contained in such estimate.  \n12 ‘‘(5) STUDENT DEBT LETTER TEMPLATE.—Not  \n13 later than July 1, 2018, and as necessary thereafter, 14 the Secretary shall provide the following to eligible  \n15 institutions:  \n16 ‘‘(A) Examples of estimates required under  \n17 paragraph (2) .  \n18 ‘‘(B) Technical assistance on how to com- 19 ply with the requirements of this subsection.  \n20 ‘‘(C) Preliminary approvals in a timely  \n21 manner of estimate formats proposed for use","cbCaib2oZWxzSw5r","https://ap.wps.com/l/cbCaib2oZWxzSw5r","pdf",238376,7,"English","# SECTION 1. SHORT TITLE\n## Letter of Estimated Annual Debt for Students Act of 2017 - LEADS Act of 2017\n# SEC. 2. ANNUAL ESTIMATE OF STUDENT LOAN BORROWING COSTS\n## Timing and eligibility (July 1, 2019; notice 30 days before academic year)\n## Contents of estimate (balances, projected monthly payments, interest rates, disclaimer)\n## Form of estimate and delivery method\n## Limitation of liability\n## Secretary-provided student debt letter templates and technical assistance\n## Definitions\n# SEC. 3. ANNUAL PROVISION OF INFORMATION BY THE SECRETARY OF EDUCATION","[{\"question\":\"What is the purpose of H.R. 1429?\",\"answer\":\"It amends the Higher Education Act of 1965 to require institutions to provide students with annual estimates of education loan borrowing costs.\"},{\"question\":\"When must institutions start providing the annual loan cost estimates?\",\"answer\":\"Beginning July 1, 2019, each eligible institution must provide the estimate not later than 30 days before the first day of each academic year after the student first received the loan.\"},{\"question\":\"What information must be included in the student’s annual estimate?\",\"answer\":\"The estimate must include cumulative loan balances and projected monthly payment amounts based on a standard repayment schedule, applicable interest rates (with limited rules for private loans), and a clear conspicuous disclaimer that the information is an estimate.\"}]","H.R. 1429 - Letter of Estimated Annual Debt for Students Act of 2017 (LEADS Act) | PDF",1789520704]