Bills › 88th General Assembly
Requiring community colleges and institutions of higher learning governed by the state board of regents to offer to certain students financial literacy programs designed to reduce student loan debt
Where it is now
- Done: IntroducedFebruary 18, 2019
- Done: SubcommitteeFebruary 18, 2019
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill directs the boards of directors of community colleges and the state board of regents to require the institutions governed by the boards to develop and offer a financial literacy program to any student who obtains an educational loan. The program must be free to the student and meet the unique needs of the student, and must include but not be limited to a review of the student’s spending habits, borrowing history, financial aid package, and projected repayment of the student’s total educational loan amount; classroom activities and discussions of budgeting, investing, credit, and identity protection; private loan counseling; counseling specific to transfer students; and grant counseling.
Read the full explanation
Each institution’s financial aid office shall work to establish a campus-wide culture of financial literacy.3. The bill provides that the state cost of requiring compliance with any state mandate included in the bill shall be moneys appropriated for general state financial aid to merged areas and any other state and federal moneys received for administration or student support.2. The inclusion of this specification is intended to reinstate the requirement of political subdivisions to comply with any state mandates included in the bill.
Senate subcommittee
Named February 18, 2019. On February 25, 2019 it recommended indefinite postponement.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Lobbying
1 for · 0 against · 7 undecided · Who →