HF 703: Concerning information regarding certain state and federal student loan programs

What it does

This bill concerns information regarding certain state and federal student loan programs and provides duties of the bureau of Iowa college aid of the department of education (bureau), the Iowa student loan liquidity corporation (corporation), and certain institutions of higher education in Iowa. The bill requires the corporation to provide specified information to the bureau. Required information includes an estimate of the annual percentage rate (APR) of the federal direct plus loan as well as the assumptions used by the corporation to prepare the estimate, the address of the corporation’s internet site that includes information on possible APRs for a college family loan and partnership loan offered by the corporation, and the address of the corporation’s internet site that includes a chart comparing the terms and conditions of the federal direct plus loan with those of the college family loan and the partnership loan.

Senate subcommittee · named March 12, 2025

• Sen. Jeff Taylor (R) · jeff.taylor@legis.iowa.gov
• Sen. Doug Campbell (R) · doug.campbell@legis.iowa.gov
• Sen. Herman C. Quirmbach (D) · herman.quirmbach@legis.iowa.gov

Lobbying · 2 for, 0 against

For: Iowa Association of Independent Colleges and Universities; Iowa Student Loan Liquidity Corp.

In plain words

1. February 11, 2025Filed in the House and sent to the Higher Education committee · as HSB 152
2. February 11, 2025House subcommittee named: Hora, Jacoby and Shipley · as HSB 152
3. February 19, 2025Subcommittee recommended passing it · as HSB 152
4. February 26, 2025Approved by the House committee · as HSB 152
5. February 26, 2025Committee vote: 10–1 · as HSB 152
6. February 28, 2025Filed in the House
7. February 28, 2025Approved by the House committee, and given a new number: HF 703 · as HSB 152
8. March 10, 2025Passed the House, 87–1
9. March 10, 2025Arrived in the Senate
10. March 12, 2025Senate subcommittee named: Taylor, Campbell and Quirmbach
11. March 25, 2025Subcommittee recommended passing it
12. January 29, 2026Approved by the Senate committee
13. March 10, 2026Passed the Senate, 43–2
14. March 12, 2026Passed the House, 90–1
15. May 6, 2026Sent to the Governor
16. May 6, 2026Signed into law